2007 Interactive Annual Report - Renault

2007
AnnuAl
report

2007
key fiGures*
Group sAles worldwide:
2,484,472 vehicles
revenues – renAult shAre:
€40,682 million
operAtinG mArGin:
€1,354 million
net income — renAult shAre:
€2,669 million
dividend per shAre:
€3.80**
workforce:
130,179 employees
* Published figures.
** As proposed at the Annual General Meeting on April 29, 2008.

2007
key fiGures
TOTAL INDUSTRY VOLUME – REGISTRATIONS – CARS + LCVs
(IN UNITS)
2003 2004 2005 2006 2007
Europe + France 17,096,627 17,561,095 17,514,551 17,773,957 18,059,825
Euromed + Americas + Asia-Africa 21,994,091 24,571,894 27,022,655 29,353,333 31,984,185
Total 39 090 718 42,132,989 44,537,206 47,127,290 50,044,010
RENAULT GROUP – MARKET SHARE – CARS + LCVs
(%)
2003 2004 2005 2006 2007
Europe + France 11.1% 10.8% 10.4% 9.4% 8.8%
Euromed + Americas + Asia-Africa 2.1% 2.3% 2.5% 2.5% 2.7%
RENAULT GROUP – REGISTRATIONS - CARS + LCVs
(IN UNITS)
2003 2004 2005 2006 2007
Europe + France 1,894,262 1,895,703 1,823,479 1,666,032 1,593,789
Euromed + Americas + Asia-Africa 460,798 561,341 682,083 740,707 861,072
Total 2,355,060 2,457,044 2,505,562 2,406,562 2,454,861
INTERNATIONAL GROUP SALES
2003 2004 2005 2006 2007*
% 19.6% 22.8% 27.2% 30.8% 35.1%
*In line with the Renault Commitment 2009 business plan, the Group expects the volume of sales generated outside Europe to rise to 37% by 2009.
RENAULT SHARE PERFORMANCE FROM DECEMBER 31, 2002 TO DECEMBER 31, 2007 (€)
CAC 40 ET DJ EURO STOXX AUTO INDICÉS SUR LA BASE DU COURS DE L’ACTION RENAULT AU 31/12/2002 (44,78 €)
Annual change Renault share
Renault : +6.6%
DJ Euro Stoxx Auto : +19.59%
Cac 40 : +1.31%
125
100
75
50
25
+22.2% +12.5% +11.9% +32.1% +6.6%
Jan. Apr. Jul. Oct. Dec. Jan. Apr. Jul. Oct. Dec. Jan. Apr. Jul. Oct. Dec. Jan. Apr. Jul. Oct. Dec. Jan. Apr. Jul. Oct. Dec.
2003 2004 2005 2006
2007
Year-end price 54.
70
61.
55
68.90
91.00
97.01
High 60.
30
70.40
82.45
97.85
121.38
Low 29.
51
51.
35
61.30
70.20
84.86

OPERATING MARGIN*
(€ MILLION)
2,500
2,000
1,500
1,000
500
0
NET INCOME – RENAULT SHARE
(€ MILLION)
3,500
3,000
2,500
2,000
1,500
1,000
500
0
2,480
2,836
3,367
2,869
2,669
WORKFORCE*
(IN UNITS)
REVENUES – RENAULT SHARE
(€ MILLION)
50,000
40,000
30,000
20,000
37,525
64.5
Foreign revenues (%)
40,292
65.4
41,338 41,528
10,000
0
35.5 34.6 32.8 34 32.2
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
67.2
Domestic revenues (%)
66
40,682
67.8
DIVIDEND PER SHARE
(€)
2,115
150,000
120,000
125,128 124,277 126,584 128,893 130,179
4.0
3.5
3.0
3.10
3.80**
1,402 1,323
1,354
90,000
2.5
2.40
1,063
60,000
2.0
1.5 1.40
1.80
30,000
1.0
0.5
0
0
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
2003 2004 2005 2006 2007
COMMERCIAL RESULTS
(THOUSAND UNITS – CARS + LCVs)
AMERICAS
+32.2%
2006 185
2007 245
FRANCE
-1.8%
2006 669
2007 657
EUROPE
-5.6%
2006
1,024
2007 967
WORLDWIDE
+2.1%
2006
2,434
2007 2,484
EUROMED
+11.5%
2006 381
2007 424
SIMPLIFIED STRUCTURE OF THE RENAULT
GROUP AT DECEMBER 31, 2007
NISSAN
RENAULT
SAMSUNG
MOTORS
15 %
44.3%
70.1%
RENAULT
20%
AB VOLVO
100%
RENAULT
TRUCKS
MACK
99. 4%
DACIA
*Published figures. **As proposed at the Annual General Meeting on April 29, 2008.
ASIA-AFRICA
+9.8%
2006 175
2007 192

contents
2007 in pictures 2
From the President & CEO 4
Renault Commitment 2009 5
Corporate governance 8
Code of conduct 12
Management team 13
Risk management 15
Renault shareholders 16
Product offensive gets underway 18
The product pipeline 20
Passenger cars 24
The Logan program 26
Powertrains 27
Light commercial vehicles 28
Vehicle range 30
tHe renault-nissan alliance 32
The principes of the Alliance 34
Cooperation and synergies 36
Nissan in 2007 40
Nissan worldwide 41
Commercial results of the Alliance 42
efforts rewarded 44
Quality 46
Engineering, Research and Development 48
A global production and supply chain system 50
Purchasing 52
Sales 54
Sales financing 58
Formula 1 60
Renault Sport Technologies 61
Other investments and partnerships 62
sustainable develoPment
drives corPorate strategy 64
Human resources 66
Environment 68
Social responsibility 70
sales Performance
and financial Performance 72
Sales performance 74
Financial performance and outlook for 2008 78

2007
in Pictures
2007 SAw SALES GROwTH RESUME UNDER THE IMPETUS OF SIx NEw PRODUCT LAUNCHES.
INTERNATIONAL ExPANSION QUICKENED AND wE LAUNCHED THE RENAULT ECO 2 SIGNATURE
FOR OUR MOST ECOLOGICAL AND ECONOMICAL VEHICLES.
new laguna in tHe sPotligHt
in frankfurt
Unveiled at the Frankfurt Auto Show in
September 2007, New Laguna made its first
appearance in European sales networks in
mid-October. Aiming for a top place in its
category in terms of product and service
quality, New Laguna reflects the combined
commitment of all sections of the business
- from engineering and quality to purchasing
and manufacturing. Produced at our
Sandouville plant in Normandy, it achieved
top ratings for quality and reliability as soon
as it rolled off the assembly lines.
rolling out a new brand identity
In September, Renault's new brand identity made its public debut at the Frankfurt Automobile
Show. Building on Renault's rich heritage and culture, the new identity backs up the Group’s
new market ambitions, positioning it as a human, reliable and enthusiastic brand.
2,484,472
Renault vehicles sold woRldwide in 2007.
building strengtH on international markets
In 2007, Renault reinforced its international presence, bolstering positions in countries
where it was already represented and continuing its drive to build new positions on highgrowth
markets. On the production side, capacity was expanded in Russia and a large new
project was launched in Chennai, India together with Nissan. On September 1, the Renault-
Nissan Alliance signed a memorandum of understanding with the Kingdom of Morocco for
the construction of a manufacturing site near Tangiers, and in December it entered into
a new industrial partnership with the leading Russian automaker AvtoVAZ. Renault also
restructured its sales network, opening subsidiaries in Ireland on November 1, 2007 and
in Scandinavia on January 1, 2008.

enault eco 2 sPells out tHe message
In May, Renault launched the eco 2 signature to distinguish the most economical and
environment-friendly cars in its lineup. To qualify, vehicles must be manufactured on ISO
14001-certified sites, emit less than 140g of C0 2 per kilometer or run on biofuel. They
must also be 95% recoverable and contain at least 5% of recycled plastic. In November, the
Bibendum Challenge in Shanghai was the occasion for Renault to unveil its Logan Renault
eco 2 concept car, which meets all three criteria. The car offers exceptional fuel consumption
of just 2.72 liters per 100km, holding C0 2 emissions to only 71g per kilometer.
Qm5 launcH in soutH korea
Launched in November 2007 in South Korea, QM5 is the first cross-over vehicle designed
by Renault, developed by Nissan and produced by Renault Samsung Motors (RSM). Based
on the Koleos concept car, it will also be the first car produced by RSM and marketed by
Renault, which will start selling it in spring 2008. Production at the Pusan plant in South
Korea was the logical choice in view of local demand, with the Korean market expected to
take up nearly half of the cars produced.
new twingo launcH
On the market in France since mid-June
2007, New Twingo is the latest addition to
Renault's lineup of compacts. Produced at
the Nova Mesto site in Slovenia, New Twingo
combines connected style with feisty performance
and practical design, giving Renault
a new edge in the small-car segment.
more information at
www.renault.com

from tHe President & ceo
midway tHrougH renault commitment 2009, we are in
line witH tHe Planned trajectory.
All indicators point to significantly higher quality in our offering of products and services.
Despite a challenging environment, we achieved a 3.3% operating margin in 2007,
exceeding the 3% milestone we had set. In the past two years, the entire company
joined forces to lay the groundwork for future growth: we overhauled our product line-up,
developed new technologies and expanded our geographical footprint on booming markets.
we are now ready and able to take the offensive.
During these two years, we focused on meeting the three objectives of Renault Commitment
2009, but our ambitions naturally extend beyond 2009. Our aim is not to hit a temporary
peak at this date, but to position Renault durably on the path of strong and profitable growth.
we initiated a number of high-potential projects with our eye on the longer-term horizon.
Given that the long-term outlook for mature markets is at best flat, the future growth of
the auto industry depends largely on positioning in high-growth markets.
This explains our decision to build two new Alliance plants to expand our global capacities.
The first is in Chennai, India and the second in the port of Tangiers in Morocco. we
aim to make these two plants, which will each have an annual production capacity of
400,000 vehicles, the most competitive in our production system.
Similarly, we were able to win selection from among a number of candidates as the exclusive
partner of AvtoVAZ, Russia’s largest manufacturer with production capacity currently
estimated at over one million units a year. This partnership represents an exceptional
opportunity for Renault. By reviving the Lada brand, the Alliance will become the clear
leader in the Russian market, which will soon be the largest in Europe.
we are also preparing for the future with two other projects designed to extend the limits
of mobility and thus of our industry.
The goal today is no longer to simply reduce the negative environmental impact of cars,
but to eliminate it. we are currently developing vehicles capable of running on renewable
energy without any impact at all on the environment. within three years, we will be able
to mass market electrical vehicles with zero carbon dioxide, zero particle and zero noise
emissions without sacrificing performance, autonomy or driving pleasure. You will see the
first concrete example on the Israeli market in 2011.
Alongside “zero emission” mobility, we are developing mobility for all. This is the aim of
the $2,500 vehicle we want to develop together with Nissan and the Indian manufacturer
Bajaj. Designed for emerging markets, this car is made primarily for people who have not
yet had access to individual transportation.
2006 and 2007 were years in which we invested in the success, not just of this plan, but
also of all those that will follow. From 2008 on, we will start to reap the rewards of all the
hard work the men and women of Renault have put in over the past two years. we have
confirmed our milestone of a 4.5% operating margin in 2008 and expect to increase our
sales volumes by over 10%. This growth is unprecedented in the history of Renault and
it will be fueled by a product offensive that is unprecedented as well: after the six new
products launched in 2007, nine new vehicles will be rolled-out in 2008.
As shareholders, you have a direct interest in our progress. we have undertaken to raise
the dividend to €4.5 per share by 2009. This year, the Board of Directors will ask the
Annual General Meeting to raise the dividend from €3.1 in 2007 to €3.8 in 2008, based
on 2007 earnings.
You can count on the motivation of the men and women of Renault, who have all rallied
around Renault Commitment 2009, to make this an innovative, global company working
within the Alliance to deliver a strong and lasting performance.

enault commitment 2009
Halfway tHrougH tHe business Plan, Quality is
on target, our Profitability milestone Has been
surPassed and our Product offensive is underway.
February 14, 2008: Carlos Ghosn announces 2007 results.
2007, tHe year of Quality
Quality, the first of Renault’s commitments,
was the focus of concerted efforts throughout
the company. The quality of products
and services has improved significantly,
reaching the highest levels ever attained
by Renault.
This is borne out by all our indicators:
The number of end-of-assembly-line
defects has been divided by six in the
past two years.
The number of incidents reported during
the first three months on the road was
reduced by half from 2005 to 2007.
Some vehicles already rank among the
top 3 of their segment. For example, the
German Automobile Club has ranked
Scénic, Modus and Clio 3 among the best
three cars of their category. In India, Logan
was named the best in its category by two
independent organizations.
All indicators show that New Laguna is
well positioned to become one of the top
three in its segment in terms of quality.
The quality of service has improved considerably
as well. The share of customers
worldwide who say they are “fully satisfied”
with sales and after-sales services
rose from 72.1% in January 2006 to
78.4% at the end of 2007. This increase
represents 700,000 more customers who
are fully satisfied.
All processes are now in place to ensure that
this progress spreads to the entire line-up,
all over the world, to make quality one of
Renault’s lasting assets.
A New Laguna undergoes quality control
at the Sandouville factory in Normandy (France).
2007 Renault Annual Report 5

enault commitment 2009
Profitability:
renault
outPerforms
tHe oPerating
margin milestone
set for 2007
Profitability is the second of Renault’s commitments.
Despite a challenging environment
for the entire automotive industry, the
Group achieved the operating margin milestones
set for 2006 and 2007, with 3.3% in
2007 exceeding the 3% forecast.
Improved profitability is due mainly to efforts
by all business functions to improve productivity
and cut costs in the past two years.
In 2006 and 2007:
Purchasing costs were reduced by 9.1%,
excluding the impact of raw material
prices.
Productivity gains at the plants helped cut
manufacturing costs by 5.4%.
Logistics costs fell by 7.3%.
General and administrative expenses
declined 5% despite the development of
our international operations.
Distribution costs rose by 3.1%.
Investment costs were reduced by 35%,
enabling Renault to execute this period of
intensive development with no significant
increase in spending.
This policy will be pursued with the same
focus in 2008 and 2009.
For the first time since the launch of the
business plan, all regions reported a positive
operating margin. By reinforcing its international
management, for example with
the Regional Management Committees,
Renault increased the number of its profit
centers and reduced its dependency on the
European market.
6
Tune-up at the end of the Renault Logan assembly
line at the Avtoframos factory in Russia.
Paving tHe way for strong, sustainable growtH
Growth is Renault’s third commitment. The
first part of the business plan was devoted to
laying the groundwork for strong and sustainable
growth. Renault overhauled its product
line-up, developed new technologies and
expanded its geographical footprint.
Never before has Renault developed so many
new products, at such high quality levels and
during such a short period as in the past two
years. The number of new vehicles in development
doubled between 2005 and 2007. The
resulting rapid pace of product launches will
fuel growth thanks to a rejuvenated product
range that extends into new segments and
is better tailored to the requirements of all
customers, be they French, German, Brazilian,
Indian, Russian or Korean.
Alongside these products, we have developed
new technologies designed to reconcile
performance, safety and preservation of the
environment.
we thus added new engines to our powertrain
range, now benchmarks in their segments in
terms of fuel efficiency — the case of the
2.0-liter dCi, the 1.2-liter 100hp turbo and
the dCi 110hp, which enables New Laguna to
emit just 130g of carbon dioxide per kilometer.
Optimization of existing engines, means that
48% of Renault vehicles sold in Europe in
2007 emit less than 140 grams of carbon
dioxide per kilometer.
Lastly, Renault retained its leadership in safety
with nine cars awarded the maximum 5-star
rating in the Euro-NCAP tests.
The first half of the plan also saw Renault
expand existing operations in high-growth
markets, including Colombia, Russia, Turkey
and Romania, and enter new markets in India
and Iran. Between the end of 2005 and the
end of 2007, total production capacity, including
that installed at its partners, increased by
600,000 vehicles a year.
Thanks to two years of dedicated efforts,
Renault is well equipped to meet the challenges
of Renault Commitment 2009. There
has been a breakthrough in quality, our cost
structure is sound and we have laid the foundations
for future growth.
2007 Renault Annual Report

outlook for 2008 2006/2008 Product offensive
Renault has confirmed its milestone of a
4.5% operating margin in 2008 and the
planned dividend growth — another step
towards our commitment to a 6% operating
margin in 2009.
2007 was the year of quality for Renault,
and 2008 will be the year of growth. The
Group expects to increase its sales volumes
by over 10%.
This growth will be fueled by a product
offensive of unprecedented magnitude, as
we reap the full-year benefits of the vehicles
rolled out in 2007: Logan Van, New Twingo,
New Laguna sedan and estate, QM5 and
Sandero.
The product offensive initiated in 2007 will
intensify this year with nine vehicles making
their first appearances worldwide.
Four of these are renewals that will help
rejuvenate the range:
Kangoo PC and Kangoo LCV, which
sold over 2 million units in their first
generation
Mégane hatch, the core of our range
and
a product designed for international
markets — a sedan that will be the
successor to Clio Symbol.
we will also launch five products, entirely
new in our line-up, positioning Renault in
high-growth segments:
Grand Modus and Clio Grand Tour. Both
models were well received by the market
in early 2008.
A new model derived from the Logan
platform: Logan pick-up.
An LCV specifically designed for urban
use: New Kangoo Express Compact.
And finally, Laguna coupe, equipped with
the new V6 dCi engine and the 4-wheel
active drive chassis.
Including products rolled out in 2007 and
due to arrive on certain new markets in
2008, there will be 13 product events in
France: seven new vehicle launches and the
market roll-out of Laguna estate, Koleos and
Sandero. we will also introduce three facelifts
for existing vehicles (Modus phase II and
the sports versions of Twingo and Laguna).
There will be 14 launches in the Europe
region, 12 in the Euromed region, six in the
Americas and 11 in Asia-Africa.
Carlos Ghosn unveils Renault Koleos at the presentation
of financial results on February 14, 2008.
2007 Renault Annual Report 7

corPorate governance
board of directors at december 31, 2007
louis scHweitzer
Chairman of the Board
Chairman of the Appointments and Governance
Committee
Age 65
Number of shares: 283,845
and 5,115 ESOP units
Date of first term: May 1992
Current term expires: 2009
carlos gHosn
President and CEO
President and CEO, Nissan Motor Co., Ltd.
President of the Alliance Board and Renault Nissan b.v.
Age 53
Number of shares: 205,200
Date of first term: April 2002
Current term expires: 2010
yves audvard
Renault Advanced Process Design Engineer
Director elected by employees
Member of the International Strategy Committee
Age 56
Number of shares: 6 and 123 ESOP units
Date of first term: November 2002
Current term expires: November 2008
micHel barbier
Renault working Conditions Technician
Director elected by employees
Member of the International Strategy Committee
Age 52
Number of shares: 6 and 249 ESOP units
Date of first term: November 2002
Current term expires: November 2008
catHerine brécHignac*
President, CNRS
Member of the International Strategy Committee
Age 61
Date of first term: December 2006
Current term expires: 2008
8
alain cHamPigneux
Document Manager, Quality Department
Director elected by employees
Member of the Accounts and Audit Committee
Age 54
Number of shares: 694 ESOP units
Date of first term: November 2002
Current term expires: 2008
françois de combret
Senior Advisor to Union de Banques Suisses
Independent Director
Member of the Remuneration Committee
Age 66
Number of shares: 1,000
Date of first term: July 1996
Current term expires: 2008
cHarles de croisset
International Advisor, Goldman Sachs Europe
Independent Director
Member of the Accounts and Audit Committee
Age 64
Number of shares: 1,000
Date of first term: April 2004
Current term expires: 2008
itaru koeda
Co-Chairman of the Board of Directors and
Executive Vice President of Nissan Motor Co., Ltd.
Age 66
Number of shares: 500
Date of first term: July 2003
Current term expires: 2009
marc ladreit de lacHarrière
Chairman and Chief Executive Officer, Fimalac
Independent Director
Member of the Remuneration Committee and of
the Appointments and Governance Committee
Age 67
Number of shares: 1,020
Date of first term: October 2002
Current term expires: 2010
dominiQue de la garanderie
Attorney, former Chair of the Paris Bar Association
Independent Director
Member of the Accounts and Audit Committee and
of the Appointments and Governance Committee
Age 64
Number of shares: 150
Date of first term: February 2003
Current term expires: 2009
PHiliPPe lagayette
Chairman, JP Morgan France
Independent Director
Chairman of the Accounts and Audit Committee
Age 64
Number of shares: 1,000
Date of first term: May 2007
Current term expires: 2011
Henri martre
Honorary Chairman, Aérospatiale
Independent Director
Chairman of the International Strategy Committee
Age 80
Number of shares: 328
Date of first term: July 1996
Current term expires: 2011
jean-claude Paye
Attorney
Independent Director
Member of the Accounts and Audit Committee and
of the International Strategy Committee
Age 73
Number of shares: 200
Date of first term: July 1996
Current term expires: 2010
franck riboud
Chairman and Chief Executive Officer, Danone Group
Independent Director
Chairman of the Remuneration Committee
Age 52
Number of shares: 331
Date of first term: December 2000
Current term expires: 2010
rémy rioux*
Conseiller Référendaire to the Cour des Comptes
Director of Shareholdings at APE (Agence des
Participations de l’Etat),
French Ministry for the Economy, Finance and
Industry
Member of the Accounts and Audit Committee
Age 38
Date of first term: February 2007
Current term expires: 2011
Hiroto saïkawa
Executive Vice-President Purchasing, Nissan Motor
Co., Ltd.
Age 54
Number of shares: 100
Date of first term: May 2006
Current term expires: 2010
georges stcHerbatcHeff
Renault Representative for Industry-wide
Standardization
Director elected by employees
Member of the International Strategy Committee
Age 61
Number of shares: 40 and 1,894 ESOP units
Date of first term: April 2004
Current term expires: 2009
* Civil service regulations prohibit these Directors,
as representatives of the French state, from owning
company shares.
2007 Renault Annual Report

oPeration of tHe renault board
of directors
The Renault Board of Directors met seven
times in 2007. At each of these meetings,
management presented a report on
the finances, market performance and the
industrial and technical activities of the group
in all areas, before fielding questions from
Board members. Main themes considered
during the year are outlined below.
accounts and budgets
The Board adopted the consolidated financial
statements for 2006 and the half-year
accounts for 2007, and set the amount of
the dividend to be submitted to shareholders
for approval at their general meeting. It also
adopted operational and investment budgets
for the 2008 financial year.
corPorate governance
The Board conducted a full assessment of
its own operation, with results confirming the
positive conclusions of the in-depth review
commissioned in 2004 (see box p.11).
The Board also adopted the new Code of
Conduct and Compliance Procedures. This
involves the appointment of a Compliance
Officer and the introduction of a whistleblowing
system with disclosures across the
group processed on a central basis.
grouP strategy
The Board approved the signature of a
memorandum of understanding concerning
the construction of an industrial site
near Tangiers in Morocco. It also delegated
powers to senior management to enter into
a partnership agreement with AvtoVAZ in
Russia. Finally, it reviewed progress on
Renault’s development in India.
renault-nissan alliance
The Board was apprized of the report on
the decisions and proposals of the Alliance
Board.
PHOTOS:
LINE 1
Carlos Ghosn / Jean-Claude Paye - Charles de Croisset - Michel Barbier / Michel Barbier - Alain Champigneux
/ Charles de Croisset - Marc Ladreit de Lacharrière / Hiroto Saïkawa - Louis Schweitzer / Georges
Stcherbatcheff
LINE 2
Henri Martre - Franck Riboud / Catherine Bréchignac - François de Combret / Philippe Lagayette - Dominique
de La Garanderie / Jean-Claude Paye / Itaru Koeda / Yves Audvard - Rémy Rioux - Henri Martre
2007 Renault Annual Report 9

corPorate governance
oPeration of board committees
The Board of Directors has four specialized
Committees.
accounts and audit committee
The Committee has six members: its chairman,
Philippe Lagayette; Alain Champigneux;
Charles de Croisset; Dominique de la
Garanderie; Jean-Claude Paye and Remy
Rioux. Four of the six are independent directors.
In 2007, the Committee met four times.
Subjects considered included consolidated
and parent-company financial statements
for full-year 2006 and the first half of
2007; dividends to be paid in respect of
the 2007 financial year; auditors' fees; the
internal audit plans for 2007 and 2008;
and the establishment and operation of the
Compliance Committee.
remuneration committee
The Committee has three members: its
chairman Franck Riboud; François de
Combret and Marc Ladreit de Lacharrière,
all independent directors. The Committee
met twice in 2007, considering issues that
included in particular conditional allocation
of stock options and free shares in respect of
the 2007 and 2008 financial years and the
Renault Commitment 2009 business plan,
as well as compensation of the Chairman
of the Board of Directors, the President and
CEO, and the members of the Executive
Committee.
10
aPPointments and governance
committee
The Committee has three members: its chairman
Louis Schweitzer and two independent
directors, Marc Ladreit de Lacharrière and
Dominique de La Garanderie. In 2007, the
Committee met twice to consider issues that
included Board membership and revision of
the list of independent directors based on the
criteria defined in the AFEP-Medef report on
corporate governance. The Committee also
reviewed the results of the self-assessment
conducted by the Board of Directors and
considered the situation regarding the succession
of Renault managers in compliance
with the rules of corporate governance.
international strategy
committee
The Committee has five members: its chairman
Henri Martre; Yves Audvard; Michel
Barbier; Catherine Bréchignac; Jean-
Claude Paye and Georges Stcherbatcheff.
Two are independent directors. In 2007,
the Committee met twice to examine the
role of Renault and Nissan information systems
in support of Renault's international
development, and the state of the Chinese
automobile industry and market.
tHe executive committee
at tHe annual general meeting
on may 2, 2007.
2007 Renault Annual Report

self-assessment of tHe board of directors
In compliance with business practice and
the recommendations of the AFEP-Medef
report on corporate governance, the
Board of Directors conducted a detailed
review of its own organization and operation
with the assistance of the Spencer
Stuart consultancy. This was three years
after the previous assessment of the
same kind.
The Appointments and Governance
Committee examined the findings of this
review at its meeting on December 5 and
reported the results to the Board.
Findings were in general highly positive,
confirming the results of the review conducted
in 2004.
All Board members unreservedly
acknowledged the trust existing between
management and the Board.
All considered that they were kept fully
informed of the group's operations and
financial position.
Members acknowledged the quality of the
organization and operation of the Board,
in particular as regards the frequency of
meetings, the pertinence of agendas and
documentation supplied, and the standard
of debate.
The Board welcomed the introduction of
detailed reports on Renault's competitors
in response to the request made at the
previous self-assessment.
There was a consensus in favor of the
new approach taken by the Accounts and
Audit Committee, which, in addition to its
essential role in the validation of financial
statements, is the best placed to monitor
risk incurred by the business and thus to
make an annual assessment of risk management
and prevention.
The full-day meeting scheduled for 2008
to consider the company’s strategy after
Renault Commitment 2009 was welcomed.
The Board expressed an open opinion or
requested improvements on the following:
The range of competencies represented
on the Board no longer appeared fully
adequate considering the challenges
ahead and it would thus be desirable to
appoint new members, who should be
active managers with extensive experience
of industry and international markets.
The Appointments and Governance
Committee has begun a review of Board
membership and its renewal.
The overall level of Director's fees was
judged lower then the average for companies
making up the CAC 40 market
index.
Although judging the work of
Committees satisfactory, in particular
as regards the Accounts and
Audit Committee, the Board called
for more detailed reporting on the
deliberations of the Appointments
and Governance Committee and the
Remuneration Committee. It also noted
overlap in reporting from the Executive
Committee and the International
Strategy Committee.
The Chairman of the Board of Directors
and the committees concerned undertook
to take the directors’ remarks on
these points into account over the year
ahead.
2007 Renault Annual Report 11

code of conduct
“making risk control everyone's business”
12
michel de virville,
Corporate Secretary
General*
WHy IS rENauLT uPdaTINg ITS cOdE
Of cONducT?
Ethical principles are essential to how
Renault does business. This is why we drew
up a Code of Conduct back in 1994, spelling
out the principles, conduct and practices
they entail in relationships within our own
business and with the world around us.
This code must evolve in step with the changes
in Renault’s environment, in particular those
resulting from our increasingly broad international
presence. By keeping risks relating
to unethical conduct well under control, we
gain added leverage for greater efficiency
New Laguna and New Laguna Grand Tour.
and help to safeguard business development
over the long term. As a result of economic
globalization, Renault has expanded into
countries where standards are not always
clearly defined or consistently applied, which
makes compliance all the more vital. This
is the context for the new Code of Conduct
and Compliance adopted by the Board of
Directors on September 26, 2007, which
comes into force on January 1, 2008.
WHaT arE THE maIN cHaNgES?
To begin with, Renault is setting up a permanent
compliance structure charged with
implementing and enforcing internal procedures,
and ensuring that these are in keeping
with best international practice in the field
of regulation and rules of conduct. It will be
overseen by a Compliance Officer appointed
by the Chief Executive. The Compliance
Officer will draw on the support of a Global
Compliance Committee with relays in all of
our business regions.
Another major new development is an organized
structure for whistle-blowing and internal
procedures for processing alerts at group
level, the aim being to get all employees
involved in risk control. Let me emphasize
that the sole purpose of this is to protect the
interests of the business. The system offers
additional room for employees to speak
up and is in no way intended to replace
procedures already provided for by law. It
allows all employees to draw attention to
misconduct, but only in areas that concern
finances, accounting, banking and the prevention
of corruption. It is in full keeping
with the regulations defined by the CNIL,
France's national committee for information
ethics. And it has absolutely nothing to do
with control and surveillance.
WHaT aSSuraNcES dOES IT OffEr
STaff mEmbErS?
Staff members who make use of the system
can be sure that their identity will remain fully
confidential. As for those whose conduct
or involvement is in question, they will be
informed as early as possible and will have
every chance to speak out and defend themselves.
All their rights will be fully respected,
and they will have unimpeded access to
information and protection afforded by the
law. They will be able to check all their personal
data and require corrections if needed.
No anonymous alerts will be considered.
HOW WILL THE cOdE bE dEPLOyEd
acrOSS THE grOuP?
It has been translated into ten languages
and the accompanying communications kit
comes in several different versions to allow
for the specifics of each business line. All
employees and newcomers to the group will
receive copies.
*On Feb. 1, 2008 T. Moulonguet replaced M. de Virville as
Compliance Officer.
2007 Renault Annual Report

management team
grouP executive committee
at february 1, 2008
Left to right, T. Moulonguet, M. Gornet, C. Ghosn, P. Blain, J.L. Ricaud and P. Pélata.
carlos gHosn
PRESIDENT, AGE 53
École Polytechnique and École des Mines.
In 1996, after 18 years at Michelin, he joined
Renault as Executive Vice President in charge
of operations in Mercosur countries as well
as Advanced Research, Car Engineering, Car
Manufacturing, Powertrain Operations and
Purchasing.
In 1999, he was appointed Nissan’s Chief
Operating Officer, and then became the company’s
President and Chief Executive Officer
in 2001.
President and Chief Executive Officer of
Renault since May 2005, he remains President
and Chief Executive Officer of Nissan.
jean-louis ricaud
ExECUTIVE VICE PRESIDENT, ENGINEERING
AND QUALITY, AGE 55
École Normale Supérieure, Agrégation in
mathematics. Chief Engineer at the Ecole des
Mines.
Began his career at Cogema. Joined Renault
in 2002 as Senior Vice President, Quality
and a member of the Renault Management
Committee.
He was appointed Executive Vice President,
Engineering and Quality and became a member
of the Group Executive Committee and the
Renault-Nissan Alliance Board on January 1,
2005.
2007 Renault Annual Report
Patrick blain
ExECUTIVE VICE PRESIDENT, SALES AND
MARKETING, LEADER, EUROPE, AGE 55
École des Mines.
Master’s Degree in Economics.
Master of Science, Stanford University.
Joined Renault in 1977. Senior Vice President,
Market Area France and member of the
Renault Management Committee in 1998,
then Senior Vice President, Market Area
Europe in 2000. On January 1, 2005 he was
appointed Executive Vice President, Sales &
Marketing and became a member of the Group
Executive Committee and the Renault-Nissan
Alliance Board.
Patrick Pélata
ExECUTIVE VICE PRESIDENT, PLAN, PRODUCT
PLANNING AND PROGRAMS, LEADER, ASIA-
AFRICA, AGE 52
École Polytechnique, École Nationale des Ponts
et Chaussées. Doctorate from EHESS.
Joined Renault in 1984 and became Senior Vice
President, Vehicle Engineering Development
and a member of the Management Committee
in 1998.
In 1999, he became Nissan Executive Vice
President, Corporate and Product Planning,
Design and Programs, and a member of
the Executive Committee. He was appointed
Executive Vice President, Plan, Product
Planning and Programs with the Renault group
and became a member of the Group Executive
Committee on July 1, 2005. He is also a member
of the Renault-Nissan Alliance Board.
micHel gornet
ExECUTIVE VICE PRESIDENT, MANUFACTURING
AND LOGISTICS, LEADER, FRANCE, AGE 61
École Polytechnique.
Harvard Business School.
Joined Renault in 1968. Appointed General
Manager of the Billancourt plant in 1986, then
of the Sandouville plant in 1989. He became
Senior Vice President, Manufacturing in
1994 and joined the Renault Management
Committee at that time. He was appointed
Executive Vice President, Manufacturing and
Logistics and member of the Group Executive
Committee on January 1, 2005. In March
2007, he was placed in charge of Group
Human Resources.
tHierry moulonguet
ExECUTIVE VICE PRESIDENT, CHIEF FINANCIAL
OFFICER, LEADER, AMERICAS, AGE 56
École Nationale d’Administration.
Joined Renault in February 1991 as Head
of Group Financial Relations, before being
appointed Vice President, Controller of Capital
Expenditures in 1996.
In 1999, following the signature of the Renault-
Nissan Alliance agreement, he joined Nissan
in Japan as Deputy Chief Financial Officer. In
2000 he was appointed Chief Financial Officer
of Nissan, and on January 1, 2004 became
Executive Vice President and Chief Financial
Officer of Renault and a member of the Group
Executive Committee.
13

management team
executive committee and management
committee at february 1, 2008
carlos gHosn*
President and Chief Executive Officer
micHel baltHazar
Senior Vice President, Pre-engineering,
Projects and Requirements
Patrick blain*
Executive Vice President, Sales and
Marketing
Leader, Europe
marie-cHristine caubet
Senior Vice President, Market Area Europe
jacQues cHauvet
Senior Vice President, Market Area France
marie-françoise damesin
Senior Vice President, Corporate
Communications
odile desforges
Senior Vice President, Purchasing
Chairman and Managing Director, Renault-
Nissan Purchasing Organization (RNPO)
jean-baPtiste duzan
Senior Vice President, Corporate Controller
cHristian estève
Deputy Corporate Secretary General,
General Manager, Corporate Resources,
Chairman of Dacia
Leader, Euromed
micHel faivre-duboz
Senior Vice President, Supply Chain and
Logistics
PHiliPPe gamba
Chairman and Chief Executive Officer,
RCI Banque
micHel gornet*
Executive Vice President, Manufacturing and
Logistics
Leader, France
* Members of the Group Executive Committee.
14
gérard leclercQ
Senior Vice President, Group Human
Resources
Patrick le Quément
Senior Vice President, Corporate Design
luc-alexandre ménard
Senior Vice President, Public Affairs
bruno morange
Senior Vice President, Light Commercial
Vehicles
tHierry moulonguet*
Executive Vice President, Chief Financial
Officer, Compliance Officer
Leader, Americas
stePHen norman
Senior Vice President Global Marketing
Patrick Pélata*
Executive Vice President, Plan, Product
Planning and Programs
Leader, Asia-Africa
jacQues Prost
Senior Vice President, Powertrain
Engineering
bernard rey
Senior Vice President, CEO Office and
President of the Renault F1 Team
jean-louis ricaud*
Executive Vice President, Engineering and
Quality
jérôme stoll
Senior Vice President, Mercosur
yann vincent
Senior Vice President, Quality
micHel de virville
Corporate Secretary General new twingo - sHown Here,
tHe 1.5dci dynamic version
on tHe road in slovenia.
2007 Renault Annual Report

isk management
In the course of its operation, the Renault
group incurs risks with potentially adverse
impacts on its assets and financial results.
These risks are linked to the countries where
we operate, reflecting exposure to economic
and political instability, regulatory changes,
social unrest, etc., as well as product quality
and the impact of external purchasing
on cost structures. But they also reflect the
location and interdependence of production
plants and information systems, distribution
networks and environmental concerns. These
operational risks are rounded out by financial
risks such exchange rate and counterpart
risks, customer credit and taxes, as well as
legal risk, particularly that arising from new
regulatory requirements affecting the auto
industry.
International expansion, partnerships, reliance
on information systems and technology and
the emergence of new forms of violence have
aggravated existing dangers and made for
new threats.
environmental issues,
tHe distribution network
and regulatory cHange are
all risks tHat could affect
renault’s situation.
Today an industrial business with a global presence
needs to take a stricter, more proactive
approach to risk control — an approach now
fully integrated into the operational management
of the Renault group.
This takes place in two fundamental stages:
At the corporate level, medium-term plans
are set up and incorporated into the annual
budgets based on the company’s perception
of the risks and opportunities it faces. The
risk management team develops methods
and a comprehensive overview of major
risks and their prevention, using risk mapping
and monitoring.
Units in charge of key business processes
identify the skills and experts required to
identify and prioritize risks and then deploy
the appropriate solutions.
with risk factors clearly identified and defined,
action plans are adopted to control their potential
impact. All of the components of Renault’s
risk-management organization are the object
of continuing improvement.
2007 Renault Annual Report 15

enault sHareHolders
new resources for communications
witH individual sHareHolders
Renault has deployed a full range of communications
tools to consolidate the loyalty
of individual investors who already own
shares, and to attract others. These include
the Shareholders' Corner section of the
renault.com website, a toll-free number
with a voice server, and a dedicated email
address (communication.actionnaires@
renault.com). In 2007, these tools were
upgraded in a number of areas.
New service for renault registered
shareholders
Renault's registered shareholders can now
use the online services of the Gisnomi portal
to check their balances and transactions,
place orders and consult the online order
book for Renault shares.
award for finance pages on renault.com
Based on the assessments of 6,300 users,
in June 2007 on-line bank and brokerage
Boursorama awarded its Grand Prix
Boursoscan to Renault for the quality of
information on its website. This rewarded
“ we were obviously very pleased to
win the Grand Prix Boursoscan in
recognition of our commitment to
making financial information easily
available, in particular on the internet.
we worked very hard this year to
upgrade our French site. This first place
is a deserved reward for the efforts
and dedication of the teams working on
this project.”
Thierry moulonguet,
Executive Vice President, Chief
Financial Officer & Leader of the
Americas region
16
Prix boursoscan
an upgrade to the Finance section of
the site that drew on close cooperation
between Renault staff and the Shareholders'
Consultative Committee.
direct contacts at local meetings and
the actionaria fair
In 2007, Renault organized meetings with
its shareholders in Marseille, Lille, Lyon and
Nantes over the two days of Actionaria, an
event dedicated to personal investment on
the stock market. These were the occasions
for informative presentations and lively
debate on the latest developments in the
business, which this year centered on the
Product Offensive.
Shareholders' club for news and
business insights
The Renault Shareholders Club, open since
May 1995 to all individual investors with at
least one share, provides a framework for
a closer relationship between the company
and its shareholders. It is also a channel for
information about the Group's operations
and the latest developments in its business.
Members receive a quarterly Shareholders'
Letter and can participate in a wide variety
of events. In 2007, these included visits to
factories, dealerships, the Formula 1 site in
Viry-Châtillon, and the Renault Technocentre,
as well as breakfast forums at the Atélier
Renault showroom and restaurant on the
Champs Elysées in Paris.
renault shareholders at
december 31, 2007
FLOAT
64.23%
FRENCH STATE
15.01%
NISSAN
15%
TREASURY STOCK
2.65%
EMPLOYEES
3.11%
A survey of owners of bearer shares conducted
at the end of September 2007 showed
that at that date individual shareholders
held 4.5% of equity and institutional investors
a total of 60%, with French institutions
accounting for 14% and foreign institutions
for 46%.
close ties to institutional investors
around the world
Renault organizes regular meetings with
French and foreign financial analysts and
investors. Analysts’ meetings are held to
coincide with announcements of financial
results and exceptional events, while meetings
with institutional investors are held at
corporate headquarters and Renault offices
outside France throughout the year.
Renault senior managers are also regular
speakers at events organized by financial
institutions and investors in Europe and the
US, as well as at leading auto fairs and communications
events such as those for the
launch of New Laguna and New Twingo.
2007 Renault Annual Report

market caPitalization
renault Placed sixtH worldwide in automobile manufacturing
60
40
20
0
(€ BILLIONS)
134.2
68.4
TOYOTA DAIMLER
CHRYSLER
1 2
55.3
VW
sHaring in tHe successes of renault
commitment 2009
On announcing its Commitment 2009 in February 2006, Renault included shareholders in its
push for profitable growth, setting a target for regular annual rises in the dividend to €4.50
per share in 2009. The general downturn in world stock markets led to a decline in the share
price to €97.01 at December 31, 2007.
2007 Renault Annual Report
3
42.3
HONDA
4
34.2
NISSAN
5
27.6
RENAULT
6
27.4
BMW
7
24.5
VOLVO
AB
8
24.2
PORSCHE
Based on a share price of €97.01, the Renault group’s market capitalization stood at nearly
€27.6 billion at December 31, 2007, compared with €25.9 billion a year earlier.
sHareHolders gatHer for
tHe annual general meeting
on may 2, 2007.
9
22
FIAT
10
financial announcements in 2008
february 14 2007 annual results
aPril 21 first-Quarter 2008 revenues
aPril 29 annual general meeting
may 15 dividend Payment (1)
july 24 first-Half 2008 results
october 23 nine-montHs 2008 revenues
(1) As proposed at the Annual General Meeting on April 29, 2008.
dividend ProPosal
5
4
3
2
1
+33%
€1.8
€2.4
+29%
x 2.5
€3.1
0
2005 2006 2007 2008
*As proposed at the Annual General Meeting on April 29, 2008.
sHareHolder information
Email:
Direction des Relations Financières
Service des Relations avec les actionnaires
13-15 quai Alphonse le Gallo- 92512 Boulogne-Billancourt - cedex France.
communication.actionnaires@renault.com
Telephone:
Interactive voice response system: +33 (0) 1 76 84 59 99 and 0 800 650 650 (toll-free in France).
Renault group employee shareolder hotline: +33 (0) 1 76 84 31 74
access all our documents and watch live broadcasts of major group events
(agm, earnings releases):
www.renault.com/rubrique Finance
To register your renault shares in bearer form:
BNP PARIBAS - Securities Service - Actionnariat Renault
Immeuble Tolbiac - 75450 - Paris Cedex 09 - France
Tel: +33 (0) 1 40 14 89 89
€3.8*
€4.5
2009
17

1
Product offensive
gets underway
The RenaulT gRoup sold 2,484,472 vehicles woRldwide in 2007,
a 2.1% Rise on 2006. inTeRnaTional gRowTh is conTinuing apace,
wiTh sales ouTside euRope up 16.5%. a Full 35% oF ToTal gRoup
sales aRe now made ouTside The FRance and euRope business
Regions, compaRed wiTh 30% aT The end oF 2006.
2007 maRked The kick-oFF oF ouR pRoducT oFFensive.

tHe Product
PiPeline
two sHow cars Presented in frankfurt in 2007
A special highlight of the 2007 Frankfurt
Auto show was the presentation of two
Renault show cars prefiguring models to
be put on the market in 2008. The first of
these, Logan Coupe Concept, illustrates
Renault's vision of the GT sports coupe,
combining elegance, driving pleasure and
comfort. Underpinned by the four-wheel
Active Drive chassis, it boasts a brand-new
V6 dCi powertrain generating 230bhp.
The second, Kangoo Compact Concept, is
designed for active young city-dwellers with
a taste for leisure and the pleasures of life. It
prefigures the production model to be rolled
out in January 2008.
20
Laguna Coupe Concept - technology with style.
Product offensive gets underway
more information at
www.renault.com/
2007 Renault Annual Report

continued internationalization of design
The internationalization of Renault's design
activities continued in 2007, in particular
through the reinforcement of local centers
such as Renault Design India, based
in Mumbai. A market watch center since
2005, it has already won its spurs with
Kangoo Compact Concept - roomy and light for open-air leisure.
new brand
identity
The September 2007 Frankfurt Auto
Show provided the ideal occasion for
Renault to roll out its new brand identity.
Under the guidance of the Design
Department, this builds on Renault's
rich history and culture to back up new
market ambitions as a human, reliable
and enthusiastic brand. By the same
token, it involves all Renault units in all
parts of the world in a shared promise
to their customers.
key contributions to projects such as the
Logan Steppe presented at the Geneva
Auto Show in 2006, and saw its creative
role reinforced in 2007. Renault Design
India is now a full-fledged design center in
its own right, with operations covering the
entire range from initial designs through to
construction of models and prototypes.
In 2007, two new centers were opened,
Renault Design America Latina, based
in Sao Paulo, Brazil, and Renault Design
Central Europe in Bucharest, Romania.
Development continued at the Kihueng
centre in South Korea, whose workforce
will rise to 60 in 2008.
2007 Renault Annual Report Product offensive gets underway 21

tHe Product
PiPeline
new kangoo
The expressive lines and distinctive personality
of the first Kangoo launched in 1997
brought a revolution to the leisure activity
vehicle sector. Practical and versatile,
Kangoo has been an enormous success
with over 2.3 million vans manufactured to
date on sites spanning four continents —
MCA Maubeuge in France, Casablanca in
Morocco, Cordoba in Argentina and Kuala
Lumpur in Malaysia.
New Kangoo, on sale in western European
countries in late 2007 - early 2008, retains
the best of earlier models while at the same
time offering added quality, comfort and
convenience. A short, chunky front end
frees up space for the bright, airy passenger
cabin, which is further enhanced by its
steeply-raked MPV-style windscreen. Some
versions have pop-open windows, others
electric. All have large doors which open
onto a totally reworked interior designed
with occupants’ comfort and well-being in
mind, as confirmed by acoustic and thermal
performances matching those of a passenger
minivan. New Kangoo comes complete
with a diverse and comprehensive range of
reliable powertrain packages — a diesel
engine with three power variants and two
gasoline engines — to ensure a lively road
performance unmatched in the leisure-utility
segment.
Product offensive to sHow full force
in 2008
Patrick Pélata,
Strategic Planning,
Product Planning and
Vehicle Programs
How would you sum uP develoPments
in 2007?
I would say the main thing is that
confidence was renewed, with our teams
laying the foundations for the success to
come in 2009 with the beginnings of our
Product Offensive, which will show its full
force in 2008.
wHat about tHe environment?
wHat role did it Play?
Environmental issues are essential to
22 Product offensive gets underway
Renault's strategy. Our Commitment
2009 program calls for us to sell a
million cars with CO 2 emissions under
140g per kilometer in 2008, with a third
of those emitting less than 120g per
kilometer. In 2007, we took a new step
forward with the launch of the eco 2 label
for the vehicles in our range that satisfy
key ecological criteria.
we also started up a variety of programs
to prepare for stricter standards in Europe,
particularly as regards CO 2 emissions.
Not to mention our agreement with the
Israeli government for the launch of an
electric car - only a small part of our
commitment to ambitious environmental
goals, but nonetheless significant.
New safety features include advanced
driver assistance technology originally
developed for the upper end of the range,
with equipment such as cruise control and
speed limiters, automated headlights and
windshield wipers with rain detectors. There
are also two to six airbags and safety belts
with pretensers and load limiters, as well
as anti-submarining systems on seats at
the front and rear, and Isofix attachments
for three children's seats.
Passenger and utility versions of New
Kangoo were developed on a parallel basis
to optimize processes, and both display
the robust features and reliability of utility
vehicles together with added load capacity.
At the same time, New Kangoo uses the
same basic chassis as Scénic, making for
improved road handling, optimized braking,
and greater loading capacity.
Alongside New Twingo, New Laguna, Logan
MCV and Logan Van, New Kangoo is one of
the first five new models rolled out in pursuit
of the product plan target calling for 26 new
Renaults by the end of 2009. with New
Kangoo Express and New Kangoo Express
Compact, the Kangoo lineup is set to make
a significant contribution to achieving the
Plan's goals for profita bility and growth.
New Kangoo - onboard comfort and wellbeing .
more information at
www.renault.com
2007 Renault Annual Report

sandero
Sandero, a new five-door hatchback sedan,
effectively complements Renault’s offering
for Latin American markets. Produced
at the Ayrton Senna factory in Curitiba,
Brazil, it features appealing modern design
that suggests both dynamic performance
and robustness. An expressive front end
features a bumper-fascia perfectly integrated
into a body whose design reinforces
the overall impression of sturdiness, in
particular thanks to broad protective
side strips. The rear styling underscores
the impression of a roomy car, and the
2,300,000
>> kangoos Produced since launcH in 1997.
2007 Renault Annual Report
innovative dashboard has been designed
for clarity and ease of use.
while Sandero’s retail price places it in the
small-car segment, its ample interior and
exterior dimensions — it is 4.02 meters
in length with a storage capacity of 320
liters — put it up with the larger compacts.
In terms of active safety, Sandero features
the latest-generation Bosch 8.0 ABS,
also equipping Laguna and Clio II ranges.
On the passive safety front, Sandero has
been designed to meet the requirements
of European regulations. Its 3-point seat
belts, airbags, honeycomb dashboard, padded
doors, and roof cross-member provide
standards of passive safety that are highly
competitive on South American markets.
Powertrains will vary from market to market.
In Argentina, Sandero will be powered
by gasoline and diesel engines, while in
Brazil the range will focus on FlexFuel
engines that burn biofuels. The 1.6 16V
gasoline engine to be used in Argentina will
make for lively road performance combined
Sandero, sold in Brazil and in Argentina since
December 2007.
Below: quality control at the end of the assembly line
at the Curitiba factory in Brazil.
with low fuel consumption, since it achieves
90% of maximum torque available at
2,000rpm. The diesel alternative is the
1.5 dCi featuring second-generation common
rail injection, which counts among the
best in the category. Finally, in Brazil, the
1.0 16V and 1.6 16V FlexFuel engines
already equipping Clio II and Logan will be
on offer alongside a1.6 8V FlexFuel engine
not previously used for Renault ranges.
Product offensive gets underway
23

Passenger cars
2.1% rise in sales worldwide.
back to growtH
Group sales for 2007 totaled 2,484,472 vehicles
worldwide, an increase of 53,843
units or 2.1% over the previous year. This
overall result reflected two opposed trends.
The launches of New Twingo in mid-June
and New Laguna in mid-October created
renewed upward momentum after a testing
first half. In the rest of the world, growth
continued, fuelled by all three brands.
Sales were up 1% for Renault and 17.4%
for Dacia, while easing 1.4% for Renault
Samsung Motors.
Twingo
A highlight of the year was the launch of New
Twingo, on sale in France and Europe from
mid-June. It fully achieved its targets with
nearly 56,000 units sold. Twingo I continued
to maintain a healthy pace, with sales of
32,477 in the first half. Twingo also made its
debut on the UK market during the year.
modus
Modus sales declined in a difficult market
for small MPVs. 64,466 units were sold
altogether in 2007, 25.4% less than in the
previous year. The launches of New Modus
and Grand Modus at the end of the year
made for a moderate rebound at the beginning
of 2008.
clio
Clio III sales slowed from 349,770 in 2006
to 365,887 in 2007. Trends varied from one
business region to the next. In France and
Europe, sales volumes declined, reaching
respective totals of 140,149 and 167,494
compared with 149,318 and 186,619 in
2006. In contrast, in the Euromed region
total sales of Clio, manufactured at the Bursa
site in Turkey, reached 19,351 units compared
with 13,512 in 2006. The launch of
Clio Grand Tour at the beginning of 2008
reinforces Clio’s position on this segment
of the market.
megane
In the C segment, where Megane is due to
New Twingo
Clio Grand Tour Grand Modus
24 Product offensive gets underway
be renewed, it managed to keep the decline
in sales to 5.14%, with 620,210 units sold
in 2007 compared with 653,826 in 2006.
Trends on different markets varied. Overall,
sales in France and Europe flattened from
555,122 in 2006 to 501,112 in 2007,
but Scénic and Grand Scénic held onto
their share of the market in both regions.
Megane is also the first range compatible
with E85 ethanol-based fuel, reflecting
the environmental targets of Renault
Commitment 2009. Megane’s debut in the
Americas region reinforced the brand’s
position in the markets concerned, boosting
2007 Renault Annual Report

usiness with the sale of 33,522 vehicles.
In Iran, where its sales more than doubled,
Megane confirmed its appeal for local customers.
Laguna
Launched in mid-October, New Laguna
achieved its targets, with 22,519 sold in
France and Europe over three months.
The launch of the Laguna station wagon
at the beginning of 2008 should provide
added momentum to this good start. The
shift to the new generation went smoothly,
with Laguna II stocks cleared before New
Laguna’s arrival on the market. All told,
Laguna sales were down 7.2% from 2006
to a total of 77,236 in 2007.
Vel Satis
worldwide sales of Vel Satis came to 3,141
in 2007, showing a decline of 38.6% from
the previous year.
Espace
Espace IV maintained its place on the upper
market segment in 2007, reporting constant
sales volumes and market share in a steady
overall segment. A total of 42,004 vehicles
were sold. Espace leads its segment in
both France, with 34.6% of the market,
and Switzerland, where holds 24%.
renault Samsung motors
Overall, sales of Renault Samsung Motors
eased from 121,660 units in 2006 to
119,825 in 2007. The SM3 and SM7 saw
respective declines of 7.2% and 18.8%, but
thanks to the new version of the SM5, sales
climbed 1.7% to 73,331 for the year. The
end-2007 launch of the cross-over QM5 in
South Korea put fresh life into the range. In
its first two months, QM5 sold 2,158 units.
Based on the Koleos concept car, it will
be making its debut on European markets
under the Renault banner in spring 2008.
2007 Renault Annual Report
2.1%
GROWTH IN WORLD SALES
IN 2007.
more information at
www.renault.com
New Laguna Grand Tour
QM5
New Laguna
Product offensive gets underway
25

tHe logan
Program
logan sales continued to Progress in 2007.
over 780,000 units Have been sold since
tHe Program was marketed in 2004.
tHree new Production sites were added
to meet demand.
extending tHe
logan lineuP
and reinforcing
international
Presence
Over 780,000 Logan vehicles have been
sold worldwide since market launch in
September 2004. An important new stage
in the deployment of the program was
reached in 2007 when production started
up in Iran, India and Brazil. Logan cars
are now made in seven countries for sale
under the Renault and Dacia brands in
57 countries. After its initial launch in
Romania at the end of 2006, Logan MCV
made its debut on other European markets
where sales totaled 96,000. Logan
is a centerpiece of Renault’s strategy for
international expansion and sales growth.
In 2007, the Logan lineup sold a total of
366,779 vehicles, 48.1% more than in the
previous year.
26 Product offensive gets underway
starts for tHree new Production sites and
sandero in 2007
Tondar, the Iranian version of Logan, went
into production in 2007, targeting an enormously
promising market with an offering
that matches local needs. Production also
started up in India at the beginning of 2007,
where Logan is produced and marketed by
the Mahindra-Renault joint venture set up
under an agreement signed in Mumbai on
March 21, 2005. Logan is manufactured at
Mahindra’s plant in Nashik, located 180 km
from Mumbai in the state of Maharashtra.
logan is widening its international Horizons…
gérard détourbet,
Vice President,
worldwide x90
Program
In 2007, three new production sites
started operations, two of them — in India
and Iran — in regions where Renault was
not previously present. So last year marked
a second important stage in the process of
internationalization following the first steps
in 2005. Capacity expansion was another
important feature of the year, with the
Pitesti site now producing 350,000 cars
a year and the Somaca plant in Morocco
exporting to Europe. Decisions were also
taken to double capacity at our Russian
subsidiary AvtoFramos to 160,000 cars a
year and set up two new sites dedicated in
large part to Logan, one in Chennai, India,
and the other in Tangiers, Morocco. Finally,
there was the announcement of a project
for South Africa and extension of Logan
MCV sales to other parts of Europe. So in
2007, Logan did its part to contribute to
Renault Commitment 2009.
How Has sandero done in its first
few montHs on tHe market?
The Latin American media gave Sandero
a very warm welcome from the start,
unanimously hailing the quality of the
The plant has the capacity to turn out
50,000 cars a year.
At the end of the year the Logan lineup was
extended with the launch of Sandero, a,
five-door hatchback on sale in Argentina and
Brazil from the beginning of 2008. Simple,
modern, economical, reliable and robust,
Sandero embodies the Logan spirit and,
Renault's international strategy of manufacturing
near its markets.
vehicle and the renewal of Renault.
Distributors take a bright view of prospects
for the new vehicle following the earlier
launches of Megane and Logan. Sandero
made its world debut in Brazil and has been
seen as Brazil’s own car from the start,
which augurs very well for the future.
wHy is dacia adoPting a new
visual identity?
Following its international expansion and
the arrival of Sandero, the Dacia range
needed to overhaul its identity, to be more
in touch and display more personality. The
new logo aims to achieve this with simple,
modern lines making for effective visual
impact, underscoring the dynamism and
character of the brand.
logan PickuP
unveiled at tHe
bucarest auto sHow
Presented for the first time at the Bucarest
Auto Show in March 2007, the Logan
pickup offers a combination of versatility
and comfort designed for tradespeople.
It is manufactured at the Pitesti site in
Romania alongside three other Logan
bodies.
dacia’s new visual
identity
Dacia presented its new visual identity at
the Geneva Auto Show in March 2008,
which also saw the unveiling of Sandero.
Based on the Dacia brand identity, it aims
to raise visibility and reinforce Dacia’s
image with lines that are at once more
up to date and more distinctive. This
identity applies to all communications,
sales material and graphics, covering
everything from stationery to trade-fair
presentations and the design of product
logos.
2007 Renault Annual Report

Powertrains
witH environmental issues gaining new weigHt in 2007,
renault can be rigHtfully Proud of its success in designing
Powertrains tHat Place it among euroPe's best Performers
for tHe reduction of fuel consumPtion and carbon
emissions.
engines for a clean environment
A perfect example of these successes is the
TCE 100bhp gasoline engine, which made
its debut in May 2007 and now equips Clio,
New Twingo, and Modus. Demonstrating
Renault's expertise in downsizing, it combines
the power of a 1.4l engine with the torque
of a 1.6l engine and the fuel consumption
of a 1.2l engine. Using only 5.9 liters of
gasoline for 100 km to set CO 2 emissions at
no more than 140g per km, it is one of the
most efficient engines on the market.
The same expertise is put to work for diesels,
as illustrated by the 105bhp 1.4 dCi
engine equipping Megane. This is fitted with
a particle filter and emits only 120g of CO 2
per km. On New Laguna, the same engine,
in a 110bhp version, achieves a record
reduction in CO 2 emissions to just 136g
per km in a mixed cycle. Hailed by the press,
the 100bhp New Laguna deservedly carries
the Renault eco 2 label.
In 2007, Renault was one of the rare manufacturers
with a dual offering of bio-ethanol
and bio-diesel enabled vehicles in Europe.
Offering E100 compatible versions of
Clio and Megane in Brazil since 2004,
Renault launched its first bio-ethanol car
on European markets in June 2007 — the
E85-compatible 105bhp 1.6l 165V Megane.
Since the end of 2006, our group has also
made B30 bio-diesel enabled Trafic and
Master models, respectively equipped with
2.0 dCi (90 or 115bhp) and 2.5 dCi (100
or 120bhp) engines for corporate fleets. In
2008, the offering will be rounded out with
the first biofuel-compatible diesels for passenger
cars, including New Twingo with a
B30 compatible 65bhp 1.5 dCi engine.
More generally, success in reducing pollution
levels for diesel engines is well illustrated
by the 2.0 dCi equipping New Laguna,
which already satisfies the Euro 5 standards
that come into force in the European Union
in 2009.
M9R 2.0 dCi.
combining engine Performance witH
environmental resPonsibility
“Environmental considerations are an essential part of Renault’s approach to Powertrain
Engineering. we are currently working hard on the deployment of our downsized range,
illustrated in 2007 with the launch of the TCE 100 engine for Clio and Modus and the
110bhp dCi engine for New Laguna. At the same time, we are as committed as ever to
designing powertrains that constantly enhance driving pleasure.
For us, a highlight of 2007 was the Frankfurt Auto Show, when we presented the new
V6 dCi concept engine, pre-figuring the V6 3.0 dCi engines that will later equip the cars
at the top of our range. It develops an outstanding power output of 195kw, with a wide
range of engine speeds peaking at 5,200rpm. Maximum torque is a lively 550 Nm at
1,750rpm, which makes for real pleasure behind the wheel. Fitted with a particulate
filter and a nitrogen oxide trap, the Renault V6 dCi Concept combines high performance
with respect for the environment — in fact, it already meets the Euro 6 standards.”
Jacques Prost,
VP Powertrain Engineering.
M9R engine on show at the Atelier Renault for the
presentation of New Laguna – “driving pleasure with
complete peace of mind”.
2007 Renault Annual Report Product offensive gets underway
27

ligHt commercial
veHicles
renault was euroPe’s toP brand for ligHt
commercial veHicles for tHe tentH year running in
2007, winning 14.2% of tHe market in tHe france and
euroPe regions.
renault, tHe leading lcv brand in euroPe
New vehicle registrations were up 1% on
2006. The Renault brand held 14.2% of the
market and retained its leadership in the
France and Europe regions for the tenth year
in a row thanks to the success of Kangoo
Express, Trafic and Master. Ten years after
launch, Kangoo LCV placed second on the
European market for small commercial vans,
with 18.3% market penetration at end of
2007. Passenger and utility models have
shown unfailing appeal with sales since 1997
now totaling over two million vehicles.
At the 2007 Frankfurt Auto Show, Renault
unveiled New Kangoo, which retains
the best of earlier models while offering
enhanced quality, comfort and versatility.
Standard passenger and utility versions of
28 Product offensive gets underway
New Kangoo went to market in France and
Europe in January 2008 and will be followed
by the short version of the utility van
in June 2008.
Renault’s share of the market for utility and
passenger vans in the France and Europe
business regions has risen steadily since
2001, reaching 12.7% at the end of 2007,
up from 12.4% a year earlier. These vigorous
performances place Renault among the
top three on the segment.
Trafic continued its excellent results, with
sales totaling 60,750 in 2007, 17.5%
more than in 2006. This robust rise reflects
impetus from the launch of New Trafic in
September 2006 and the growing success
of Passenger and Generation models.
Since 2004, Renault has had an active
presence on the camping-car market, supplying
Master bases to 13 producers. At
the end of August, 2007, Master sales for
use as camping cars topped the 25,000
mark. Sales in this area more than tripled
in three years to account for over 10% of
new Master registrations.
Excluding camping cars, special vehicles
adapted for other uses or produced in
partnership accounted for 10% of Kangoo
sales, over 30% of Trafic sales and 40% of
Master sales. A total of 80,000 specially
adapted vehicles, including camping cars,
are sold each year.
New Kangoo: the best of a tradition with enhanced
quality, comfort and convenience.
New Kangoo Express:
getting the job done in comfort.
2007 Renault Annual Report

gaining ground on international markets
In 2007, Renault’s Light Commercial
Vehicles Division sold 59,000 vehicles
outside Europe, 12% more than in 2006,
continuing to extend international reach.
environment-friendly ranges
The 2.0 dCl (90 or 115bhp) and 2.5 dCl
(100 or 120bhp) engines equipping New
Trafic and New Master can use B30 fuel,
10 >>
2007 Renault Annual Report
This healthy result reflects in particular a
46.9% surge in the Americas. Argentina,
Turkey and Morocco are now among the
Division’s top ten markets.
in line with Renault’s Commitment 2009
regarding diesel engines able to run on
blends with 30% biofuel.
10 years
as tHe leading
lcv brand in euroPe.
whether for professional purposes or leisure, Trafic Passenger and Trafic Generation
offer quality features for enhanced practicality and performance.
Master, like Trafic, is equipped with B30 biofuel-enabled
2.0 dCi and 2.5 dCi.
Product offensive gets underway
29

tHe veHicule
range
Clio ii Campus
sandero
Passenger
cars
Megane five-door
(exists in version three-door and GT)
Scenic and Grand Scenic
(exists in seven-door version)
vel satis
Clio iii five-door
(exist in three-door version)
Thalia/symbol/classic
Megane sedan and
Megane grand Tour
New laguNa
(exists in GT version*)
EspacE and Grand EspacE
Twingo
(exists in GT version)
Clio iii Renault SpoRt
Twingo REnaulT spoRT
clio Grand Tour
LOGAN Modus and Grand Modus
Megane Coupé Cabriolet megane renault sport
New LaguNa graNd Tour
(exists in GT version*)
NEW kaNgoo
KOLEOS *
trafic

NEW KaNgoo compact ExprEss*
NEW KaNgoo ExprEss*
Trafic LcV
MASTER LCV (L1H1)
ligHt
commercial
veHicles
sandero
Logan
dacia
range
Logan mcv
logan van
Master rWD logan pick-up *
sm 3
sm 5
sm 7
Qm 5
rsm
range
* Commercialized in 2008

2
tHe renaultnissan
alliance
A unique pArtnership between two globAl compAnies,
the renAult-nissAn AlliAnce further strengthened synergies
between the two brAnds in 2007, while stepping up the pAce of
internAtionAl development.

tHe PrinciPles
of tHe alliance
tHe PrinciPles of tHe alliance
The Alliance is based on trust and mutual
respect. Its organization is transparent,
ensuring clear decision-making for speed,
accountability and high standards of performance.
It aims for maximum efficiency by
combining the strengths of both companies
and developing synergies through common
structures, cross-company teams, shared
platforms and components.
To attract and retain the best talent, the
Alliance offers good working conditions and
objectives
The Alliance pursues a strategy of profitable
growth with three objectives:
to win customer recognition as one of the
top three automotive groups for the quality
and value of its products and services
— in each business region and on each
market segment;
34
to rank among the top three automotive
groups for critical technologies, with each
partner taking the lead in specific domains
of excellence;
to consistently generate total operating
profit that places it among the top three
automotive groups in the world, by holding
operating margin high and maintaining
strong growth rates.
The RenaulT-nissan alliance
challenging opportunities, encouraging staff
to adopt an entrepreneurial approach open
to the world at large.
The Alliance targets attractive returns for
the shareholders of both companies, and
complies with recognized best practice in
corporate governance. It upholds the principles
of sustainable development.
strategic management
Nissan and Renault, respectively headquartered
in Tokyo and Paris, have separate
managements and run their operations
through their own Executive Committees.
Each is accountable to its own shareholders
and board of directors.
In March 2002, the Alliance set up a strategic
management company, Renault-Nissan
bv, to draw up common strategies and take
overall responsibility for synergies. This
Dutch company, equally owned by Nissan
and Renault, hosts the Alliance Board, which
meets up to ten times a year. Carlos Ghosn
is the President of the Board, whose members
also include three Renault Executive
Vice Presidents and three Nissan Executive
Vice Presidents. Other members of the
Renault and Nissan Executive Committees,
representing the highest levels of management,
also attend meetings. The Board sets
the strategic course for the Alliance over the
medium and long term, and co-ordinates
joint operations worldwide.
The Alliance Board oversees other entities
that include:
the Renault and Nissan Coordination
Bureau and the teams in Paris and Tokyo
coordinating Alliance activities, including
the work of the various steering committees
and cross-company teams;
steering committees, co-chaired by members
of Renault and Nissan Executive
Committees, which are charged with submitting
key issues for the consideration of
the Alliance Board meetings, supervising
the operation of joint working groups,
and, in a general way, contributing to the
realization of Alliance projects;
over 30 cross company teams and functional
task teams providing support for
the Alliance in all key areas of business,
including product planning, research and
advanced engineering, vehicle engineering,
powertrain engineering, manufacturing
and purchasing. Their prime
mission is to explore scope for added
synergies between the two companies.
Based in Tokyo, Paris and other Alliance
sites around the world, team members
are in daily contact; they usually hold
conference calls once a week and faceto-face
meetings once a month. Team
leaders make regular reports to the
Alliance Board on progress in their field
of competence.
more information at
www.renault.com
2007 Renault Annual Report

January 24, 2008: Renault and Nissan staff
attending a Cross-Company Team meeting
visit the Lardy test site near Paris.
6,160,046 >>
working togetHer
Benchmarking and transparency have meant
substantial savings for both Alliance partners,
providing the basis for fruitful cooperation
illustrated by the development of common B
and C platforms and sharing of new powertrains.
To this end, each company applies its
core engineering competencies, with Nissan
taking the lead for the development of new
gasoline engines, while Renault takes the
lead for diesels. Engines are tuned differently
in their Nissan and Renault applications.
They also drive differently and behave differently,
reflecting distinct brand and market
priorities.
RNPO is easily the largest joint company
in the Alliance, employing a total of 300
people in Tokyo, Paris and Farmington
Hills, Michigan, where Nissan has
its North American technical center.
Negotiating on behalf of both Nissan
and Renault, it now meets nearly 85%
of the Alliance's total purchasing needs.
Renault and Nissan nonetheless still have
their own purchasing departments which
implement the purchasing policy decided
by RNPO. RNPO is intended to round out
the purchasing resources of Renault and
Nissan, not take their place.
“The amount of purchasing through
RNPO is certain to grow as we share
more common components,” says Odile
Desforges, Chairman and Managing
veHicles sold
worldwide by renault
and nissan in 2007
renault-nissan PurcHasing
organization, tHe alliance’s first
and largest combined oPeration
Director of RNPO and Senior Vice
President, Purchasing, at Renault. “we
also aim to source more components in
low-cost countries such as China and
India. Their contribution is already growing
at a spectacular rate as more large
suppliers set up there and their technology
bases progress.”
RNPO staff members are specifically
employed by either Renault or Nissan. “All
employees are nonetheless there for both
Alliance members,” explains Desforges.
“It is their job to support Nissan Value
Up and Renault Commitment 2009, and
have both companies’ interests at heart.
They never favor one above the other,
which ensures that it is always a win-win
situation.”
2007 Renault Annual Report The RenaulT-nissan alliance 35

cooPeration
and synergies
tHe alliance witH renault Has Quickened
renault's develoPment as a global business.
since its incePtion, nissan Has acHieved a
sPectacular turnaround in financial results,
wHile renault Has consolidated its oPerating
Performance. cooPeration between tHe two
Partners was reinforced in 2007.
veHicle engineering Powertrains
Renault is drawing fresh strength from
Nissan's recognized know-how in the
design and construction of four-wheel
drives. Nissan made an active contribu -
tion to the development of the cross-over
conceived and designed by Renault and now
manufactured by Renault Samsung Motors
in Korea. Unveiled as Koleos Concept at
the Paris Motor Show in September 2006,
this went on sale under the name QM5
in Korea in December 2007 and will be
tackling European markets as Koleos in the
second quarter of 2008.
This co-development based on the sharing
of tasks across companies with different
cultural roots in France, Japan and Korea
was a special challenge for the Alliance and
an exercise in cross-cultural management.
At the same time it illustrates a key strength
of the Alliance since such co-development is
crucially important in the context of market
globalization.
In India, the Alliance set up a new center
for operational technologies in Chennai.
Named Renault Nissan Technology and
Business Centre India Private Ltd (RNTBCI),
this is a joint venture in which each of the
two Alliance partners has a 50% interest.
Designed to provide varied support for both
Renault and Nissan around the world, it will
in time offer a complete range of services
covering product and process engineering,
purchasing, design, cost management and
IT development. RNTBCI is expected to
employ more than 1,500 people by 2010.
Also in India, a joint delegation from Renault
and Nissan visited the Bajaj Auto Chakan
site in Puna to review the feasibility of a
project for a very low-cost car. Consideration
of the project continues.
36 The RenaulT-nissan alliance
On display for the first time on the Renault
stand at the 2007 Frankfurt Auto Show, the
Alliance's latest diesel, the V6 dCi Concept,
will be on offer for New Laguna and future
Renault and Nissan vehicles at the top end
of the range, including the Nissan Maxima in
the United States in 2010.
The new 2,993 cc engine block is based on
the Alliance's MID diesel and shares 25% of
its components. Particularly compact, it is
designed to fit into the New Laguna's engine
compartment without infringing regulatory
Renault and Nissan work together on projects
of common interest in the strategic fields of
research and advanced engineering, thereby
optimizing allocations of resources while at
the same time covering a wider range of
possible solutions and speeding technical
progress to offer new products.
Joint projects of this kind are extremely
varied, concerning everything from fuel
requirements for the protection of pedestrians.
Generating 195 kw, the equivalent of
365bhp, it also supplies maximum engine
torque of 550 Nm at 1,750 rpm. The V6 dCi
Concept meets Euro 6 and North American
emissions standards.
The range of applications for the Alliance's
first diesel, the M1D, which already equips
Nissan models in Europe, is to be extended
to Japan, where it will equip Nissan x-Trail
as of autumn 2008.
researcH and advanced engineering
cells and hybrid engines to materials, electronics,
mechanics and active security. By
pooling technical expertise as well as their
knowledge of markets and the resources of
their international networks, the two partners
have adopted the most effective strategy to
expand the technology bases of each and
develop solutions that place the Alliance
among the world’s top three auto manufacturers
in terms of critical technologies.
tHe renault-nissan alliance — milestones
march 27, 1999: Renault and Nissan
announce a strategic alliance, with Renault
acquiring a 36.8% interest in Nissan (shares
and other voting securities) for ¥643 billion
(€5 billion/$5.4 billion)
June 1999: Organizational structures are set
up for joint projects to back profitable growth
for the two partners in the Alliance. Headed
by the Global Alliance Committee, these
structures cover all areas of operation.
October 30, 2001: Renault and Nissan
announce further reinforcement of the
Alliance, as provided in the initial agreement,
setting up Renault-Nissan bv, an equallyowned
joint subsidiary established under
Dutch law, to take charge of strategic
management.
march-may 2002: Renault exercises
equity warrants held since 1999 early to
raise its interest in Nissan from 36.8% to
Quality
The Alliance Quality Charter defines common
quality rules and procedures that come
into play in all Alliance projects. Updated in
January 2003, these rules and procedures
are an essential part of the shared commitment
that unites Renault and Nissan.
A Functional Task Team is charged with continuing
improvement in this area, drawing
the lessons from the most effective quality
practices applied by Nissan or Renault in the
US, Japan or Europe. These practices are
then adopted and, where possible, further
improved by both partners.
*FFT: Functional Task Teams.
**CTT: Cross Company Teams.
44.43%, and Nissan raises its interest in
Renault to 15%.
may 29, 2009: The Alliance Board meets
for the first time.
may 2005: Carlos Ghosn is named
President and CEO of Renault and Renault
Nissan bv, at the same time remaining
President of Nissan.
2007 Renault Annual Report

manufacturing
Manufacturing is naturally a key area for the
sharing of best practice, and the two par tners
are currently working together on the
next stages in the continuing development
of the Renault Production way and Nissan
Production way. This process enables each
partner to benefit from the other's experience
to enhance its own performance.
An example is the important contribution
Nissan was able to make to the upgrading
of Renault's Novo Mesto plant in Slovenia
ahead of the launch of New Twingo in
2007.
The Nissan Aprio, a compact based on
Logan, is a second example. Targeting the
Mexican market, it went into production at
Renault's Curitiba plant in Brazil.
Sandero, the recently launched hatchback,
is yet another example. Renault has
announced that this will be put on the South
African market in 2009, broadening competition
in the AB segment and offering local
custo mers a roomy 4.02-meter long car
at a very affordable price. Sandero will be
produced locally at Nissan's Rosslyn site
from the beginning of 2009.
In a major joint initiative, the Alliance has
signed an agreement with the Kingdom
of Morocco for the construction of one
of the largest automobile plants in the
Mediterranean area. Based near Tangiers,
this will turn out 200,000 vehicles a year as
of 2010 and annual capacity will in time rise
to 400,000 vehicles. Related investments
are estimated at €600 million, including
€350 million for the initial phase. Creating
a strategic base for the Alliance's worldwide
production, the site will be operated
by Renault, making vehicles based on the
Logan platform and on new-generation
Nissan LCVs. A good 90% of production
will be for export.
The site will make the Renault-Nisan
Alliance one of the largest employers in the
Tangiers area, creating 6,000 jobs directly
and a further 30,000 indirectly. In preparation,
additional investments have been
made to provide appropriate training for
local workers.
more information at
www.renault.com
logistics
Since 2004, a special cross company team
has been dedicated to logistics, identifying
opportunities for enhanced efficiency where
partners’ sites in different parts of the world
are close to each other and jointly managing
the two companies’ value chains. It also
plans for the Alliance's steadily increasing
international needs. The Alliance has defined
four priorities for progress in this area —
strategy, cost management for new projects,
international development and human
resources.
tHe automobile
industry's most
successful
PartnersHiP
The Alliance's strategy has proven its worth.
Nissan, previously the world's number-seven
vehicle manufacturer by market capitalization,
was in fifth place in 2007, with market
value multiplied by 2.7 since 1999. Over
the same period, Renault moved up from
the 15th to the sixth place with its value
multiplied by 1.4. Taken together, Renault
and Nissan rank among the five largest
automakers worldwide.
oPtimizing tHe allocation of resources
thierry moulonguet,
Executive Vice
President and Chief
Financial Officer
2007: a year of Progress for tHe
alliance
Levers for the Alliance's development were
well at work in 2007, which saw a number
of important new projects lift off. An
agreement was signed for the construction
of a joint production facility in Chennai,
India, which will be up and running in
2010. In September, an agreement was
reached with Moroccan authorities for the
construction of a joint production site near
Tangiers, which will be operational in 2010.
Another highlight was the announcement
of a partnership with the Indian auto
manufacturer Bajaj for the development
of an ultra low-cost car from 2010 on.
This will complement the Alliance's
offering based on Logan. In another key
area, Renault and Nissan launched a joint
project for the development of technology
for electric-power vehicles, the aim being
to significantly increase sales in this
segment from 2012 on. In purchasing,
Renault-Nisan Purchasing Organization
continued gathering momentum and now
deals with 85% of the Alliance's needs.
leverage for tecHnology witH an
eye on tHe environment
The Alliance provides a channel for
Renault and Nissan to share technologies
and gain added competitive strength. In
this, a key priority is to optimize allocation
of development tasks. Examples include
fuel cells, where Nissan takes the lead,
while in the field of powertrains Renault
takes the lead for diesels and Nissan
for gasoline engines. New Laguna
perfectly illustrates the benefits, with
two of the four powertrains on offer for
the range developed jointly by Renault
Visit to the Research and Advanced Engineering exhibition at the Guyancourt
Technocenter for the 4th Alliance Convention.
and Nissan, while the diesel option was
developed by Renault and the remaining
engine by Nissan. The 110bhp 1.5 dCi
powertrain equipping New Laguna cuts
CO 2 emissions to only 130g per kilometer,
the lowest level in the segment. In 2007,
momentum from the Alliance continued
to generate economies of scale, optimize
the worldwide allocation of resources and
speed technology transfers.
Pace to carry on from 2007 to
2008
The investments made in December
2007 and the launch of a strategic
partnership with AvtoVAZ will reinforce
the Alliance's presence in Russia and
offer added capacity. AvtoVAZ shows
how the initiatives of one Alliance partner
can quickly benefit the other. In western
Europe, Nissan will be able to accelerate
the penetration of its top-of-the-range
Infiniti with the support of Renault's diesel
technology. As in all areas of the Alliance,
both partners come out on top.
2007 Renault Annual Report The RenaulT-nissan alliance 37

cooPeration
and synergies
2007: exPanding synergies and
tHe alliance’s geograPHical footPrint
Renault and Nissan have announced plans to
build one of the largest auto-manufacturing
sites in India in 2009. Located in Chennai, in
the state of Tamil Nadu, its production capacity
will come to 400,000 units a year.
Renault benefits from Nissan’s recognized
know-how in the design and construction of
four-wheel drives. Nissan made an active contribution
to the development of the cross-over
conceived and designed by Renault and now
manufactured by Renault Samsung Motors
in Korea. Unveiled as Koleos Concept at the
Paris Motor Show in September 2006, this
went on sale under the name QM5 in Korea in
December 2007 and will be tackling European
markets as Koleos in the second quarter of
2008.
This co-development based on the sharing of
tasks across companies with different cultural
roots in France, Japan and Korea was a special
challenge for the Alliance and an exercise in
cross-cultural management. At the same time,
it illustrates a key strength of the Alliance since
such co-development is crucially important in
the context of market globalization.
P
RENAULT GROUP PLANTS
(RENAULT, DACIA AND RENAULT SAMSUNG MOTORS)
NISSAN PLANTS BODY ASSEMBLY
PLANTS OF RENAULT PARTNERS
- IN IRAN, IRAN KHODRO AND SAIPA
- IN INDIA, MAHINDRA & MAHINDRA
(1) INCLUDING MEXICO.
(2) INCLUDING THE JOINT LCV PLANT.
(3) INCLUDING RUSSIA AND TURKEY.
(4) NISSAN AND DONGFENG MOTOR HAVE SET UP A JOINT VENTURE
TO PRODUCE AND SELL A RANGE OF VEHICLES.
38 The RenaulT-nissan alliance
In India, the Alliance set up a new center for
operational technologies in Chennai. Named
Renault Nissan Technology and Business
Centre India Private Ltd (RNTBCI), this is a
joint venture in which each of the two Alliance
partners has a 50% interest. Designed to provide
broad support for both Renault and Nissan
around the world, it will offer a complete range
of services covering product and process engineering,
purchasing, design, cost management
and IT development. RNTBCI is expected to
employ more than 1,500 people by 2010.
POWERTRAIN
In Russia, the new partnership with AvtoVAZ will
bring multiple benefits as well. It will considerably
strengthen the Renault-Nissan Alliance’s
competitive standing in Russia and give rise to
new opportunities for sharing components and
production facilities.
On display for the first time on the Renault
stand at the 2007 Frankfurt Auto Show, the
1,145
NORTH
AMERICA
UNITED STATES
MEXICO
566
245
LATIN
321 AMERICA (1)
UNITED KINGDOM
SPAIN
PORTUGAL
COLOMBIA
CHILE
Alliance’s latest diesel, the V6 dCi Concept,
will be on offer for New Laguna and future
Renault and Nissan vehicles at the top end of
the range, including the Nissan Maxima in the
United States in 2010.
BRAZIL (2)
ARGENTINA
P
FRANCE
SLOVENIA
SALES IN
THOUSAND OF
VEHICLES - 2007
RENAULT
GROUP SALES
NISSAN
GROUP SALES
2007 Renault Annual Report

The new 2,993cc engine block is based on
the Alliance’s MID diesel and shares 25%
of its components. Particularly compact, it is
designed to fit into the New Laguna’s engine
compartment without infringing regulatory
MOROCCO
1,529
391
1,920
WESTERN
EUROPE
ROMANIA (DACIA)
TURKEY
EGYPT
KENYA
SOUTH AFRICA
RUSSIA
IRAN
requirements for the protection of pedestrians.
Generating 195 kw, the equivalent of
365bhp, it also supplies maximum engine
torque of 550 Nm at 1,750 rpm. The V6 dCi
Concept meets Euro 6 and North American
emissions standards.
The range of applications for the Alliance’s
first diesel, the M1D, which already equips
P
444
172
INDIA
371
112 MIDDLE EAST
259 AND AFRICA
616
CENTRAL AND
EASTERN EUROPE
723
2
(3)
P
THAILAND
P
MALAYSIA
721
SOUTH KOREA (RSM)
(4) JAPAN
CHINA
TAIWAN
PHILIPPINES
INDONESIA
151
Nissan models in Europe, is to be extended to
Japan, where it will equip Nissan x-Trail as of
autumn 2008.
In another example of Alliance cooperation,
Renault has announced that its new hatchback
Sandero will be made in Nissan’s plant in
Rosslyn, South Africa. Launched on the South
African market in 2009, Sandero will broaden
competition in the AB segment and offer local
customers a roomy car 4.02 meters in length
at a very affordable price.
2007 Renault Annual Report The RenaulT-nissan alliance
39
JAPAN
818
667
ASIA-PACIFIC
In a major joint initiative, the Alliance has signed
an agreement with the Kingdom of Morocco for
the construction of one of the largest automobile
plants in the Mediterranean area. Based
near Tangiers, this will turn out 200,000 vehicles
a year as of 2010 and annual capacity
will in time rise to 400,000 vehicles. Related
investments are estimated at €600 million,
including €350 million for the initial phase.
Creating a strategic base for the Alliance’s
worldwide production, the site will be operated
by Renault, making vehicles based on
the Logan platform and the Nissan production
system for a new generation of light commercial
vehicles. A good 90% of production
will be for export.
The site will make the Renault-Nissan Alliance
one of the largest employers in the Tangiers
area, creating 6,000 jobs directly and a further
30,000 indirectly. In preparation, additional
investments have been made to provide
appropriate training for local workers.
NUMBER OF UNITS SOLD WORLDWIDE
IN 2007
RENAULT GROUP 2,484,472
NISSAN GROUP 3,675,574
RENAULT-NISSAN ALLIANCE 6,160,046

nissan in 2007
nissan — strategy and growtH
Nissan released its interim results for
the first half of the 2007-2008 financial
year (i.e. the six months from April 1 to
September 30, 2007). while profits were
down, progress was made to put the
company back on course for its full-year
objectives. The company was able to offset
difficulties, which included high raw-material
and energy prices, rising interest rates,
and little or no growth in mature markets.
These factors, combined with high levels of
incentive spending, left the auto industry
no room to pass on higher costs to end
customers.
In the first half of the financial year, Nissan’s
worldwide sales totaled 1,816,000 units,
up 6.3% from the same period of 2006.
This growth came as total industry volumes
declined in Japan, the U.S. and Europe.
Japan
In Japan, Nissan sold 332,000 units in the
first half, declining 5% less than the market.
Unit sales of 15,000 for new Dualis and
13,000 for the all-new x-Trail made significant
contributions to the result.
united States
In the United States, first-half sales rose
5.4% to 534,000 units. Nissan launched
the all-new Rogue in September and new
Murano in January 2008, and expects these
key products to do well in a difficult market.
Sales of the premium brand Infiniti rose
5.1%, boosted by the new G37 sedan and
coupe.
40
The RenaulT-nissan alliance
Europe
In Europe, Nissan sales came to
304,000 units. Growth in Russia, where
first-half sales doubled from the previous
year to reach 67,000 units, continued to
offset declines in western Europe. The
new UK-built Qashqai continued to gather
momentum and accounted for 20% of
European sales.
rest of world
In the rest of the world, which includes
Mexico and Canada, sales were up 13.1%
to 646,000 units. Sales in China surged by
over 25.2% to 225,000 units, with Tilda
leading the way and the launch of the Livina
making for added pace. Combined with a
more than 2.1% rise to 89,000 units in
Gulf State countries and a good showing in
Indonesia, this offset declines in Mexico and
Taiwan. Fiscal 2007 brought 11 new products,
including the Rogue compact crossover
in the U.S. At the high-performance
end of the range, Nissan unveiled the longawaited
GT-R, a Nissan brand icon that will
now be tackling global markets, whereas in
the past it was sold mainly in Japan.
Nissan GT-R; New Dimensional
Multi-Performance Supercar.
2007 Renault Annual Report

nissan
worldwide
nissan continues to aim for tHe
objectives set in nissan value uP
and invests for tHe future.
nissan worldwide
Expansion in china
Tokyo (Jan. 9, 2008) – Nissan Motor Co., Ltd.
(NML) and Dongfeng Motor Group Co., Ltd.
(DFG) announces the launch of Dongfeng
Nissan Auto Finance Co., Ltd. (DNAF), based
in Shanghai. This comes against the backdrop
of a 25.2% rise in Nissan sales in
China. DNAF will provide retail finan cing
for Nissan and Infiniti customers across
China, as well as inventory financing for
dealers of both brands in Shanghai, Beijing
and Shenzhen.
russia takes top spot for
Nissan Europe
Trappes, France (Jan. 8, 2008) – Nissan
announces that Russia has become its top
European market with 2007 sales showing a
60% rise on a year to over 120,000 units. A
total of 250,000 Nissan vehicles have been
sold in Russia since the launch of the sales
Following its debut in Europe, the second generation
x-TRAIL was introduced in Japan in August 2007.
company in January 2004. Construction of
a new manufacturing plant in St. Petersburg
is well underway, with opening scheduled
for 2009.
Nissan set for major push into India
Chennai, India – Nissan and Renault
announce their choice of Chennai in the
southern state of Tamil Nadu as the location
for what will be one of the largest automotive
production sites in India, with an installed
annual capacity of 400,000 units.
Chennai / Tokyo (Oct. 29, 2007) – Hinduja
Group flagship Ashok Leyland and Nissan
Motor Co., Ltd., today signed a binding
Master Cooperation Agreement (MCA) for
the formation of three joint ventures to back
Light Commercial Vehicle (LCV) business.
The agreement was signed in Chennai today
by R. Seshasayee, Managing Director of
Ashok Leyland and Carlos Ghosn, President
and CEO of Nissan Motor Co., Ltd.
Paris / Tokyo (Sept. 6, 2007) – The Renault
Nissan Alliance today announced the creation
of a new business center in Chennai,
India to be opened in early 2008. It will support
a wide range of engineering and business
services for Renault and Nissan facilities
around the world. when completed, the
business center will provide services including
product and manufacturing enginee ring,
purchasing, design, cost management
and information systems development.
Nissan engines take pride of place
Detroit, Michigan (Dec. 12, 2007) – Nissan's
VQ37VHR engine has been named to the
10 Best Engines list by ward's Automotive
Group, marking the 14th straight year a VQ
series engine has earned that distinction.
It is the only engine that has been included
every year since the award began in 1995.
all-new Nissan gT-r
Tokyo (Oct. 25, 2007) – Nissan announces
the all-new Nissan GT-R – the 21st Century
supercar. One of the world's fastest vehicles,
holding a production-car lap record at the
famed Nürburgring in Germany, it is also
one of the world's easiest and safest cars
for high-speed driving.
Nissan and NEc advance lithium-ion
technology
Tokyo (April 13, 2007) – Nissan and NEC
Corporation sign an agreement to set up a
joint-venture — Automotive Energy Supply
Corporation (AESC) — focusing on lithiumion
battery technology for large-scale automotive
application by 2009. Nissan and
NEC Group are to invest ¥490 million in
the joint venture, which will be the leading
producer of lithium-ion batteries for the
global automotive community, using pioneering
technologies developed by Nissan
and NEC Group.
Nissan and chrysler sign OEm product
agreement
Tokyo/Auburn Hills, Michigan (Jan. 11,
2008) – Chrysler LLC and Nissan Motor Co.,
Ltd., announce an agreement for Nissan to
supply Chrysler with a new car for limited
distribution in South America. Based on the
Nissan Versa sedan, the new car will be supplied
to Chrysler on an Original Equipment
Manufacture (OEM) basis in 2009. This is
the second product-exchange agreement
between the two corporations, with Nissan
affiliate JATCO already supplying Chrysler
with transmissions since 2004.
2007 Renault Annual Report The RenaulT-nissan alliance 41

commercial results
of tHe alliance
renault and nissan sold a total of
6,160,046 veHicles in 2007 (+ 4.2%) for a
global market sHare of 9.1%* and a new
annual sales record for tHe alliance.
world sales of tHe renault-nissan alliance
Renault and Nissan sold respectively
2,484,472 and 3,675,574 units, Renault’s
worldwide sales increased by 2.1%, while
Nissan’s rose by 5.7%. The main growth
zones for the Alliance were Russia (+49.9%),
Latin and South America (+12.6%), China
(+25.6%) and the Middle East and Africa
(+16.2%).
RENAULT-NISSAN ALLIANCE
WORLDWIDE SALES
(PASSENGER CARS AND LCV)
8,000,000
6,000,000
4,000,000
2,000,000
0
5,911,477
2006
RENAULT GROUP
NISSAN GROUP
3,477,837
2,433,610
6,160,046
2007
3,675,574
2,484,472
renault returns to growth
Renault sold 2,134,484 vehicles under the
Renault brand (+0.9%), 119,824 under
Renault Samsung Motors brand (-1.5%), and
230,164 Dacia-branded vehicles (+17.2%).
WORLDWIDE SALES BY GEOGRAPHICAL REGION IN 2007
(UNITS SOLD AND % OF TOTAL)
CENTRAL AND
EASTERN EUROPE
616,145
ASIA-PACIFIC
817,777
MIDDLE EAST
AND AFRICA
371,302
LATIN AND
SOUTH AMERICA
568,068
42
The RenaulT-nissan alliance
The success of Logan, sold under the Renault
and Dacia brands, was confirmed with sales
rising more than 48% to 367,745 units. The
Logan family grew in 2007 with the arrival of
Logan MCV and Logan Van. The latest Loganplatform
model, Sandero, was launched in
Mercosur at the end of 2007.
Renault continued to grow internationally,
increasing its non-Europe sales by 16.5% to
863,187, for nearly 35% of total sales.
Renault started its product offensive in 2007,
launching Logan Van, New Twingo, New
Laguna sedan and station wagon, QM5 and
Sandero. Four new models will be launched in
the first two months of 2008: the passenger
car and LCV versions of New Kangoo, Clio
Estate and Grand Modus. Phase 2 of the
Modus will be released as well, together with
five other models in 2008. The three brands
(Renault, Dacia, RSM) will all contribute to
the growth of the Renault group. Sales are
forecast to rise over 10% in 2008, driven by
increases in all regions.
New models drive Nissan’s global
growth
Nissan sold a record 3,675,574 vehicles
under the Nissan and Infiniti brands, up 5.7%
over the prior year. Significant new models
introduced in 2007 included the Altima
WESTERN EUROPE
1,921,290
NORTH AMERICA
1,145,021
JAPAN
723,424
coupe, Livina series and the Rogue crossover.
Global sales of Infiniti vehicles increased at
151,683 units, boosted by the G35 sedan
and the launch of the G37 coupe.
Nissan recorded sales of over one million
units for the third consecutive year with a
4.8% increase in its largest market, the
United States. Sales in 2007 were led by
the Nissan Versa subcompact, Altima midsize
passenger cars and Infiniti G35 luxury
sedan.
In Japan, Nissan’s overall sales fell 6% to
720,973. Despite a decline in the overall
vehicle segment, Nissan saw improved
vo lume and market share in the minicar segment,
bolstered by new products like Pino.
In Europe, annual sales increased slightly.
Strong demand in Russia – 59.6% increase
vs. 2006 – and the continued success of
Qashqai offset challenging conditions in the
mature markets.
In other global markets, Nissan sales
increased by 8% to 1,024,683 units. In
China, sales in calendar year 2007 increased
25%, supported by the continued popularity
of the Tiida model and new models such as
the Livina. In addition, Infiniti and LCV business
units continue to grow in markets such
as Korea, GCC and China.
delivering value for both partners
The Renault-Nissan Alliance advanced on all
fronts in 2007, creating new opportunities for
future growth. In product development and
engineering, Nissan was able to enrich its
line-up thanks to Renault’s Logan platform.
Renault is capitalizing on Nissan’s acknowledged
expertise in 4x4 vehicles. Nissan
actively participated in the development of
an all-new crossover vehicle for the Renault
and Renault Samsung brands. Styled and
defined by Renault, the new vehicle is built
by Renault Samsung Motors in Korea.
The Alliance continues to grow with existing
operations and significant new investments
in emerging markets. Growth continues
in China, through Nissan and Dongfeng,
and in India with Renault and Mahindra &
Mahindra. In Russia Nissan is building a
plant in St Petersburg which will open in
2009 and Renault has continued operations
with Avtoframos and signed a Memorandum
of Understanding with AvtoVAZ whose manufacturing
capacities will allow for production
of over 750,000 cars annually.
In Tangiers, Morocco, and Chennai, India, the
Alliance is developing vehicle manufacturing
facilities whose capacity will eventually reach
400,000 vehicles a year in each region.
Both companies in the Alliance will continue to
grow through innovative collaboration, leveraging
the expertise of this uniquely successful
partnership for mutual value creation.
* Total PC+LCV market sales based on Renault estimates:
67,738,307.
2007 Renault Annual Report

ogue, adding a new dimension
to tHe crossover sPort utility
segment.
2007 Renault Annual Report
All-new Murano offers enhanced
technology and a new premium
driving feel.
The RenaulT-nissan alliance 43

3
efforts
rewarded
In 2007 all corporate functIons worked hard to achIeve the
targets assIgned to them: laguna met Its qualIty commItment,
renault engIneerIng reorganIzed to back the group’s growIng
InternatIonal presence, purchasIng held fIrm In a dIffIcult
market, and sales successfully ushered new models Into
dealers’ showrooms.

Quality
Quality is a core comPonent of
renault commitment 2009 — and a
Priority for all our businesses,
in all Parts of tHe world.
commitment 2009 new laguna — tHe
Quality is the first of the three overriding
objectives of Renault Commitment 2009 and
is essential to achieving the other two, profitability
and growth. It underpins the Renault
brand image, and is critical to our capacity
to penetrate new markets around the world,
thereby raising sales volumes. The impact
on profitability is equally important, given
the implications of warranty and non-quality
costs for cost reduction. For customers, this
commitment to qua lity means an undertaking
to meet their expectations in terms
of perceived quality, reliability and durability.
To achieve that, we take a structured
approach defined in the Renault Excellence
Plan, deployed since 2005 with the goal of
making quality an enduring focus of group
culture. The Plan is organized around six key
areas at every level, from the first development
stages through to sales, targeting new
levels of performance in both operational and
support functions. New Laguna, launched
in 2007, is the emblem of the Plan’s quality
commitment.
46
Efforts rEwardEd
standard bearer for
tHe Quality cHain
New Laguna lends concrete form to Renault's
quality drive, leading the way for for all the
vehicles produced under the Commitment
2009 program and beyond.
New Laguna fords a river during extreme heat trials
in Argentina.
Quality control on New Laguna at the Sandouville factory in Normandy, France.
2007 Renault Annual Report

structuring service
for Quality
Quality in sales and after-sales service is
a strategic priority expressed in Renault's
commitment to securing a place among the
top three in the field. Customer satisfaction at
each stage — booking of orders, delivery of
vehicles and after-sales service — is clearly
critical to loyalty, and this means that customers
must be able to count on the same quality
of service throughout the network. To achieve
that goal, Renault has defined homogeneous,
reproducible standards and procedures that
all dealers, agents and subsidiaries undertake
to abide by.
100
number of defective Parts delivered by suPPliers
100
75
100
75
50
75
50
25
50
25
0
25
0
0
-39%
-39%
-39%
2005 2007
2005 2007
2005 2007
A warm welcome is part of what service quality means –
a Renault dealership in Saint Avold, eastern France.
Progress gains momentum
more information at
www.renault.com
As regards service quality, the feedback
we have had from initial markets has
been positive, showing that we have
crossed a new threshold in this area.
number of incidents rePorted by customers in tHe first tHree
100
montHs on tHe road
-38%
100
75
-38%
100
75
-38%
50
75
50
25
50
25
0
25
0
2005 2007
0
2005 2007
2005 2007
number 100 of defects to be rePaired before veHicles leave tHe Plant
100
75
100
75
50
75
50
25
50
-84%
25
0
25
-84%
25
0
2005 -84% 2007
0
2005 2007
2005 2007
number of off-road incidents in tHe first year on tHe road
yann vincent,
Senior VP Quality
Has laguna acHieved its Quality
targets?
The new line has only been on the market
for a few months now, so it is too early
for definite assessments of customer
perceptions. But we are very pleased
with how well startup went. There are
three main reasons. First, continuing
the results achieved by its predecessor
at the end of its production life, New
Laguna immediately achieved the highest
standards of quality at the factory gate
Second, the results of test-drives adding
and wHat about tHe next
stage?
we are maintaining the momentum for
progress that began with Modus. Each
time a new product comes out, quality
indicators improve. So Laguna has
benefited from the progress achieved
with Modus, Clio III and Twingo. we must
pursue constant progress wherever we
operate. we know that future growth
will be generated outside Europe, which
means that we have to work even harder
on our capacity to take the specifics of
regional markets into account and offer
solutions that genuinely satisfy customer
expectations. And we have to enhance
the durability of our vehicles, since
100
100
75
100
75
50
75
50
25
50
25
0
25
0
2005
-35%
-35%
-35%
2007
up to millions of miles without problems
demonstrated New Laguna's reliability.
Third and last, the number of warranty
claims is lower than for Clio at the
same stage, which is very encouraging.
Clearly, Laguna is off to a good start.
cost of use is an increasingly important
consideration for buyers.
0
2005
2005 2007 Renault Annual Report
2007
2007
Efforts rEwardEd
47

engineering,
researcH and develoPment
in 2007, environmental issues were tHe focus of
growing Public debate. tHey were also a central
concern for renault engineers designing cars to
meet demanding emission limits in wHat is now
a global context.
r&d efforts bear fruit
In 2007, R&D spending was equivalent to
6.05% of consolidated sales — proof of its
fundamental role in the Renault Commitment
2009 program, underpinning the development
of our offering.
New vehicles call on the full range of engineering
know-how: from the very first steps
in the process, each new car is designed to
combine global appeal with scope for adaptation
to customer demands on local markets
engineering goes global
As with Renault’s other core business functions,
engineering is now a global activity
organized on a worldwide basis, with new
centers set up close to end markets and
customers.
Renault Engineering, the worldwide
business function, thus draws on the
expertise of the Corporate Engineering
Department based in France, combined
Renault’s R&D factors in environmental
impacts from the earliest stages in the
design and development process.
As regards CO 2 , efforts target key variables
including mass, aerodynamics, combustion
efficiency and electricity consumption.
Performance in these four areas is a focus
for emissions in general, along with posttreatment
of exhaust with equipment such
as particulate filters and nitrogen oxide
48 Efforts rEwardEd
and full compliance with new environmental
standards.
Engineering efficiency is directly measured in
the capacity to meet deadlines and achieve
programmed development milestones, as
illustrated in 2007 by 10 major product
launches. These successes testify to the
resourcefulness and the dedicated efforts of
our engineering teams in working towards
Commitment 2009 goals.
with that of development centers in
major markets. These include Renault
Technology Americas with units in Brazil,
Argentina, Mexico, Chile and Colombia;
Renault Technology Korea; Renault
Technology Romania, which covers the
center in Turkey as well as Romania;
Renault Technology Spain; and Renault
Technology India.
r&d witH an eye on environmental
Progress
traps. Recycling is another main priority for
R&D, particularly as regards materials, in
line with an approach that covers the full
vehicle life cycle.
Quality was another key priority and 2007
was a year of significant progress in this area,
drawing on the contributions of engineering
teams, factories and purchasing units
working in close cooperation with suppliers.
Judged by the rate of off-road breakdowns in
the first three months on the road, two-thirds
of the Renault range now rank among the
world’s top performers in their segments.
This new structure enables Renault
Engineering to take advantage of local
opportunities in terms of competencies,
costs and procurement to develop quality
vehicles attuned to the demands of local
markets in highly competitive conditions.
laguna — setting tHe examPle
New Laguna is a first in that it is actually
lighter than the model it replaces despite
its many additional functions. weight has
been cut by an average of 15 kg compared
to Laguna II. The new equipment would normally
have added nearly 100 kg, but this
has been more than offset by optimization of
each component and the use of new materials
developed by research teams. weight
reduction was included in the initial brief
for the New Laguna project, in keeping with
Navigation system on Clio Grand Tour Concept.
Renault’s commitment to limiting fuel consumption
and emissions. Equipped with a
110bhp K9K 1.5l dCi engine, New Laguna
emits only 130 grams of CO 2 per kilometer
and fuel consumption is among the lowest
for any vehicle in the segment — one of the
criteria allowing it to carry the Renault eco 2
label. Finally, New Laguna uses over 17%
recycled plastics, one of the highest proportions
for any vehicle on the market.
2007 Renault Annual Report

enault’s
strategy for
innovation
Since the beginning of 2006, Renault’s
innovation strategy has been directed by the
Research, Advanced Studies and Materials
Department — dubbed DREAM from the
French Direction de la Recherche, des Etudes
Avancées et des Matériaux. This strategy has
four priority themes:
CO 2 and the environment,
safety,
life on board,
dynamic performance.
Renault
technology
Romania
10 >>
Renault Technology Romania (RTR)
opened in Bucharest in June 2007.
Dedicated to developing vehicles and
powertrains for production in regional
plants or markets in central and eastern
Europe, Turkey, Russia, and North Africa,
it will have around 3,000 employees by
the end of 2009. Together with development
centers in South America, Korea
and India, it reflects Renault’s international
expansion.
major launcHes
in 2007
in 2007, tHe renault grouP filed
998 Patents
Strategy for safety took a new step forward
in 2007 with the adoption of what we call our
Real Safety policy. An international network
has been set up to identify specific local
needs as regards safety equipment, based
on accident statistics.
Turning to life on board, even more emphasis
was put on interactive systems for drivers
and passengers.
And finally, as regards dynamic performance,
work focused on the chassis. In this area, an
outstanding example of innovation at work is
recycled materials*
1 Left lower wheel arch shield supports
2 Engine cover
3 Compartment
4 Closure water box (right and left)
5 Water deflector
6 Substrate insulation (under dashboard)
7 Soundproofing (under dashboard)
8 Plate insulator
9 Support moulding right injected
10 Interface radio
11 Fuse trim
12 Stowage mat
13 Airbag computer casing
14 Door inserts
15 Backshell (if coated)
16 Airbag cover plate
17 Sunvisor shell
18 Door spacer
19 Wheel houses
20 Front floor carpet
*Non exhaustive list.
the Active Drive four-wheel steering system
that will equip the Laguna GT Coupé, winner
of the Innovation Trophy sponsored by leading
auto magazines.
Active Drive 4wS: on most cars, only the
front wheels steer, whereas with four-wheel
steering the rear wheels can also be turned
to the left or the right. This tightens the car’s
turning radius, making for easier parking and
more effective obstacle avoidance.
The Active Drive 4wS also excels in difficult
braking conditions. or when avoiding sudden
obstacles.
2007 Renault Annual Report Efforts rEwardEd 49

a global Production
and suPPly cHain system
renault’s industrial systems in france and euroPe are reinforcing
tHeir comPetitiveness and enHancing flexibility. in otHer regions,
industrial exPansion continues in order to bring manufacturing
closer to tHe end markets. more tHan ever, logistics are a decisive
comPonent of tHe cost of sales.
flexible, comPetitive industrial caPacities in
france and euroPe
Production increased by some 180,000 cars
from 2006 to 2007, but there were significant
differences from one region to the next.
In France and Europe, production declined
overall while increasing on international markets
and for light commercial vehicles. Four
new products made their debut during the
year — Logan MCV, Logan Van, the Laguna
sedan and New Twingo. Logan MCV proved
a huge success, enabling Dacia to double its
sales in the Europe business region, and the
model now takes up half the capacity at the
Pitesti plant in Romania.
50 Efforts rEwardEd
In the past, new vehicle launches were milestone
events at intervals of seven to eight
years. Today, Renault Commitment 2009 calls
for 26 new models, entailing over 50 starts
on vehicle and powertrain production lines.
Standardization of production processes and
efficient working methods founded on the
Renault Production System have enabled
Renault to build robust positions on international
markets and to take the growing number
of new product launches in its stride.
New Laguna on the assembly line of the Sandouville plant in Normandy, France.
Clio Estate production at the Bursa factory in Turkey.
a busy year for
logistics
The logistics organization set up in 2006
helped to keep costs under control in a
context of rapid international expansion.
Cooperation with Nissan was stepped
up, in particular as regards purchasing
of transport, which took 15% off
distribution costs. During the year, the
International Logistic Network’s export
platform in Puna, India, went into
operation, making its first deliveries —
fascia for Romania — in September.
As a result of the rapid growth in Logan
sales and production, the Pitesti site in
Romania is now the group’s leading
logistics hub ahead of Grand Couronne
in France, with over 13,000 containers
shipped in 2007.
2007 Renault Annual Report

exPanding
Production caPacity
outside euroPe
International development has accelerated
with Logan now made in India and Iran.
In summer 2007, capacity was increased
at the plants in Bursa, Turkey, and Pitesti,
Romania, to 60 vehicles an hour. Other projects
in the pipeline include doubling the
production capacity of the Moscow plant to
30 units per hour and increasing that of the
Casablanca site to 18 units per hour. Two
further projects have been launched jointly
with Nissan, one in Chennai, India and the
other in Tangiers, Morocco.
more information at
www.renault.com
suPPly cHain —
logistics take center
stage
Logistics played a key role Renault’s growth
outside the France and Europe regions in
2007, with spending under this heading
totaling €1.3 billion. Since 2005, global
sales have benefited from vigorous rises
of 55% in the Americas region, 24% in
the Euromed region and 26% in the Africa-
Asia region.
In addition to production starts in India
and Iran, highlights of the year included
the materialization of the project in South
Africa. New challenges for logistic teams
came at the beginning of 2008 with the
start of QM5 production in South Korea
and the importation of vehicles from Asia
to France and Europe. Continuing developments
of this kind mean that efficient
logistics are more critical than ever to
international growth.
logistics underPin international growtH
michel faivre-duboz,
Head of supply chain
and logistics.
wHat are tHe key cHallenges in
tHe suPPly cHain today?
Reliability and efficiency — making sure
that customers get their cars on the promised
date. To do that, we have to control
every stage, from the moment the order is
booked through to final delivery. Meeting
our deadlines and keeping our promises
are absolutely vital, not least because of
the impact on competitiveness and brand
image. which means not only that we have
to be efficient, but also that we must never
promise anything we cannot deliver.
raPidly exPanding international
Presence...
And logistics are keeping pace, which is
not always an easy job. we have to be able
to get products from the countries where
they are made to the countries where they
are sold, and do so cost-effectively — and
then do it better and better to win new
competitive edge. That is why we are working
on our process in particular to reinforce
cooperation between planning, purchasing,
manufacturing, sales and other functions.
The goal is clear: to ensure that we
have robust, reliable processes to deliver
services customers can count on around
the world.
Dacia Logan assembly at the Somaca factory in Casablanca, Morocco.
Parts warehouse at the Cleon factory west of Paris.
imPlementing
environmental
standards at all
Production sites
The ongoing efforts of Renault production
sites around the world have opened
the way for fresh progress in 2008, with
all now implementing ISO 14001. The
most recent certification was awarded
to the Casablanca plant in December
2007. Certification acknowledges the
continuous improvement in environmental
standards and other aspects of
sustainable development.
2007 Renault Annual Report Efforts rEwardEd 51

52
PurcHasing
in 2007, renault PurcHasing teams
continued to cut costs against
a backdroP of rising raw material
Prices.
fresH declines in PurcHasing costs
Despite persistently high raw-material prices,
Renault’s Purchasing Department successfully
continued the drive to cut costs and stay
on course for Commitment 2009. Including
the impact of higher raw-material prices, purchasing
savings in the year came to a €390
million. To build relationships with suppliers
that ensure the highest levels of performance
over time, Renault applies a policy founded
on the principle of trust, transparency and
respect that are at the heart of the Renault-
Renault suppliers have to comply with the
demanding requirements that result from
the purchasing quality plan initiated at the
beginning of the decade. This provides for
management by objectives, alert and escalation
procedures, assistance procedures
and business holds in the event of repeated
failures.
Renault has 120 quality experts, half of them
outside France, dedicated to supplier quality
through the application of effective tools and
Nissan Purchasing way. In concrete terms,
that means setting clearly defined, realistic
objectives and offering visibility regarding
opportunities for additional business. Just
as importantly, relationships are a matter of
close, ongoing dialog, which in some cases
can extend to short-term support to enable
suppliers to meet targets. In 2007, Renault
assigned a team of 40 specialists to help
suppliers enhance the competitiveness and
efficiency of their own supply chains.
Quality of PurcHased Parts and services
backing international growtH
The Purchasing Department has continued
expanding its international reach to supply
Renault production sites in a growing number
of countries, as well as to optimize purchasing
of services and equipment. International
sourcing thus already accounts for over 40%
Efforts rEwardEd
stringent processes at every level, from engineering
to volume manufacturing and aftersales
parts. The results speak for themselves
with the number of defective parts delivered
by suppliers divided by three from the end of
2004 to the end of 2007. For the launch of
New Laguna, supplier quality was monitored
even more closely. Not only must suppliers
be able to deliver parts to specifications, they
must also demonstrate that they can control
processes over time.
of all purchases. The Logan program has
offered exceptional opportunities for suppliers
to develop highly competitive production
bases close to assembly plants in India, Iran
and, more recently, in Brazil with Logan-
Sandero.
Yann Vincent, Odile Desforges and Carlos Ghosn with the seven winners of the 2007 Supplier Quality awards.
develoPing single PurcHasing
organizations abroad
The purchasing operations of Renault and Nissan are complementary, reflecting the
complementary geographical distribution of their production facilities. In each country
we have a single purchasing organization that meets the needs of both groups. To take
some examples, in India, Renault — already present in Mumbai — will play the lead role
in purchasing for the joint industrial project in Chennai, while Nissan’s local purchasing
organizations take the lead in Mexico and for Renault’s new project in South Africa
Renault Sandero assembly line at the Curitiba factory in Brazil.
2007 Renault Annual Report

The search for recyclable materials is an integral part
of Renault’s quality approach. Recycled plastics are
delivered in pellet form, as shown here.
targets acHieved
2007 Renault Annual Report
odile desforges,
Senior Executive Vice
President, Purchasing,
Chairman and
Managing Director
RNPO.
How Have PurcHasing teams
dealt witH cost Pressures, Particularly
rising raw material
Prices?
Accelerated deployment of a strategy
based on sourcing in leading competitive
countries, reduction of operating costs and
pooling of orders with Nissan enabled us
suPPliers as Partners in
sustainable develoPment
Renault is committed to sustainable development.
In purchasing, this means that no
long-term relationship with suppliers is possible
without respect for the environment and
fundamental rights at work.
Renault thus places special emphasis on
the need for suppliers to reduce the use
of hazardous substances, favor recycling,
and contribute to the reduction of vehicle
weight. Similarly, in the field of employees’
rights, suppliers must comply with Renault’s
Declaration of Fundamental Social Rights,
undertaking in particular to reject all forms of
child labor and forced labor, and to implement
to meet 2007 targets for cost reduction
despite these pressures. The gains we
achieved not only more than offset rises
in prices for steel and other materials for
Renault itself, but also offset a large part
of the impact on our suppliers. Nor is parts
purchasing the only area concerned. we
have also continued cooperation with customers
to reduce the cost of services, in
particular by favoring larger suppliers and
longer-term contracts.
How does PurcHasing suPPort
international exPansion?
we are placing special emphasis on
local sourcing for components, production
equipment and services. To take the
health, hygiene and safety policies consistent
with those of the Renault Group. By the end
of March 2007, 98% of suppliers had given
formal undertakings to comply with these
principles. Suppliers must also ensure that
the same principles apply at each stage in
their own supply chains.
Sustainability criteria are now integrated into
processes for the selection and approval of
suppliers as well as performance reviews.
Suppliers are also required to conduct
self-assessment reviews in this area.
example of body components, the local
content averages 80% at sites outside
Europe. Some 80% of local suppliers are
subsidiaries of international groups or have
agreements for technical cooperation with
these groups, while the remainder operate
at a purely local level. Purchasing teams at
headquarters cooperate closely with local
organizations — 40% of the 1,900 staff
members in the Purchasing Department
work directly in the field to obtain the best
possible purchasing terms. In 2007, 27%
of the parts used in western European
plants came from leading competitive
countries.
more information at
www.renault.com
renault nissan
PurcHasing
organization
RNPO, the first joint company to result
from the Renault-Nissan Alliance, was set
up in 2001 to strengthen the bargaining
positions of the two partners by pooling
orders, thus reducing purchasing costs
for both. It also extends the range of
suppliers available to each and helps
to accelerate sharing of best practices.
Renault and Nissan have kept their
own purchasing departments, which
define priorities for their own projects,
together with targets for quality, costs
and delivery deadlines. On this basis,
RNPO adopts a sourcing strategy,
selects suppliers and takes decisions on
prices and compliance. Operating from
bases in Tokyo, Paris and Farmington
Hills, Michigan, the organization further
extended its reach in 2007 and now
meets 85% of the Alliance’s purchasing
needs.
Efforts rEwardEd 53

sales
tHe arrival of 26 new models in
dealers’ sHowrooms is a cHallenge tHat renault’s
sales organization is meeting witH robust Processes
and oPerational tools. tHe Priority is clear –
flawless customer service at every steP from order
to delivery and tHrougHout tHe life of tHe veHicle.
new Products Hit tHe network
The first vehicles produced under Renault
Commitment 2009 reached dealers’ showrooms
in the second half of 2007, with New
Twingo on sale from June and New Laguna,
the program’s standard bearer, from October.
December saw the launch of Sandero and
Koleos in, respectively, Brazil and Korea (sold
as QM5 under the Renault Samsung Motors
brand); both will be rolled out in Europe in
mid-2008. The early months of 2008 will see
the arrival of Kangoo, Grand Modus, Modus
phase 2, Clio Grand Tour and Laguna Grand
The contribution of business outside the
France and Europe regions is on the rise,
and Renault is implementing effective tools
and processes to ensure its success on
high-growth markets.
Structured for efficiency and performance,
the sales organization is divided into
five business regions – France, Europe,
Euromed, Asia-Africa and the Americas.
Management standards are applied in sales
just as they are in manufacturing, down
to the smallest detail, and in particular by
the subsidiaries. The Dutch subsidiary, for
example, puts Renault Commitment 2009
into practice in order to achieve the best quality
levels, rank among the top 3 in terms of
volumes and become the most cost-effective
subsidiary in Europe in terms of distribution
costs. To do so, it has defined an eight-point
54 Efforts rEwardEd
Tour. with Commitment 2009, the number
of new launches has doubled, and Renault’s
sales organization has readied for the challenge
with added resources and reinforced
processes to ensure that each new model
realizes its full potential. In this, fundamental
priorities are effective procedures, efficiency
and performance. At each stage in the sales
process, quality is backed by demanding
methods and procedures, new tools and
optimal logistics to ensure the availability of
parts and accessories.
reinforcing international Presence
Moves into new countries may be limited
to sales or combine sales and industrial
presence – as in the case of Iran and, more
recently, India. In its drive to pursue growth,
Renault and its Alliance partner Nissan
have set up production in Iran and India,
increased production capacity in Russia,
and announced two new major projects in
Morocco and India.
uniform management standards for
subsidiaries
strategy for progress that is monitored on a
regular basis.
More generally, the leaders of the Market
Area Europe have set up a new organization
to ensure that subsidiaries concentrate
on deploying the sales and marketing strategy
consistently throughout the region. The
purpose is to standardize and simplify their
operations and define their role and responsibilities
vs. the central functions. Subsidiaries
11,000
now apply common principles with regard
to the organization, staffing and scheduling
necessary to boost the efficiency of Renault’s
sales and marketing in a given country. This
same approach is being applied in Renault’s
other business regions as well.
2007 Renault Annual Report

Talking with a Renault Business
Center customer in Belgium.
>> electromecHanics
trained in 2006 and
2007
an unceasing searcH for imProvement in tHe networks
Since the launch of its business plan in
February 2006, Renault has deployed a
worldwide drive to improve the quality of
customer service called Renault Excellence
Plan 4. The first phase, launched in February
2006, drew up 20 items essential to customer
satisfaction to be systematically
implemented by the network. Sales teams
were trained in these essentials on an
unprecedented level and financial incentives
given to encourage quality service. Over one
Renault Excellence Plan for services recognizes
the importance of test drives for a
customer. These are now better organized
with a fleet manager appointed in each
dealership to allow customers to try out new
cars in the best possible conditions.
The quality of deliveries has also been
improved by standardizing the preparation
and hand-over process to customers. From
the moment they arrive in a dealership to the
delivery to the customer, vehicles follow a
million customers worldwide were surveyed
to assess their satisfaction with the delivery
of their vehicle or after-sales services.
Mystery customer surveys were reinforced
to test how the 20 essentials were actually
implemented in the dealerships. In France,
2,500 such surveys were carried out in
2007. The European findings showed that
the number of customers spontaneously
declaring themselves “fully satisfied” rose
5 points to 77% in July 2007.
Putting tHe renault Production system
to work in sales
set procedure marked by numerous controls
and documents to ensure that no item is
forgotten and that the vehicle is handed
over in spotless condition.
And to facilitate maintenance, the ergonomics
of factory assembly lines have
been applied to optimize the workstations
of repair mechanics in order to improve
both the quality of customer service and
productivity.
The second phase of the Renault Excellence
Plan aims to standardize the processes and
methods of the sales network even further to
guarantee that customers around the world
are satisfied with Renault’s sales and aftersales
services. Simple measures make it
possible to monitor in day-to-day operations
how these standards are applied.
2007 Renault Annual Report Efforts rEwardEd
55

sales
new levers for customer satisfaction
Renault has also developed a range of
effective new tools to offer customers irreproachable
reception and repair services.
workshops can now use a special software
package to optimize reception and customer
scheduling. New jobs can be entered into
the system and scheduled as soon as the
initial appointment is made.
Service advisers also have a new software
tool for diagnosis enabling them to identify
the origin of problems in less than a minute.
They start by asking customers a few simple
questions about the incident. The information
is recorded and sent on to the workshop,
ensuring there is no discrepancy
between the customer’s explanations and
the advisor’s interpretation. Each symptom
corres ponds to a code in the software.
In the workshop, technicians making the
repairs follow the step-by-step instructions
given by the software, called Clip. The new
application is far more intuitive and can
access all the information relating to a given
symptom to identify the exact cause and the
measures that need to be taken.
From 2006 to 2007, nearly 23,000 staff
members from Renault’s sales organization,
almost half of them customer advisers,
attended training sessions devoted
to the attitudes and behavior that express
the Renault spirit. The program was developed
by the Renault Academy, which is
charged with training for the Renault network.
Backing up the New Laguna launch,
a program combining technical and sales
components has enabled all technical
56 Efforts rEwardEd
The aim is to have full diagnosis in less than
an hour in 80% of cases and in less than
two hours in 95% of cases. A tiny camera
enables technicians to visualize defective
parts that are difficult to reach. And if the
problem proves too complicated to solve on
their own, they can use a direct video link
to Renault Assistance, where the technical
support team is able to see the parts
concerned and discuss solutions, all using
the same tool.
Once the diagnosis is complete, the technician
can get to work with the support
of Dialogys, a new software package that
provides full access to repair procedures,
estimated work time and required parts.
training – tHe key to flawless service
service providers to update their expertise.
And to allow these coordinators to focus on
more complex and unusual breakdowns,
Renault created a new job function: electromechanics.
In 2006 and 2007, 11,000
electromechanics were trained, opening
Clip software up to 3.5 times more users.
A new course for service advisers was also
introduced to promote in-depth knowledge
of the product and new tools deployed for
product reception.
renault banners
for Quality in
Quick rePairs
Quick-repair networks Renault Minute
and Renault Minute Carrosseries make an
essential contribution to customer satisfaction,
bringing services close to home
and doing away with the need for garage
appointments. Renault Minute, which provides
standard servicing and maintenance,
has now been in operation for over 22 years
and is present in 22 countries, counting
1,063 outlets at the end of 2007. Launched
in 2001, the Renault Carrosseries network
for quick body repairs is well attuned to a
market where minor accidents in city areas
are increasingly the rule. These already
account for 70% of mishaps. The number
of outlets is rising rapidly and at the end of
2007, there were nearly 760 Renault Minute
Carrosserie sites in 19 countries.
Dedicated software, here in use at a Renault
dealership in Saint Nazaire, western France,
speeds up processing and optimizes scheduling
for repair customers.
2007 Renault Annual Report

Spare parts storage at a Renault
Business Center in Belgium.
welcoming a customer at the Lyon East dealership -
Renault’s PER4 service quality program makes customer
satisfaction the top priority.
logistics — sPare Parts on call worldwide
Effective logistics to ensure ready availability
of spare parts are essential to the
development of Renault sales in all parts
of the world, offering customers a guarantee
of quality service in good time and
at competitive prices. within the Renault
network, 97% of spare parts are available
How is renault’s sales network
PreParing to make tHe most of
tHe 26 new models?
All of our teams have geared up to meet the
challenge. we have overhauled our methods
in all areas, from corporate functions to dealerships.
Streamlining our processes was one priority,
but we have also paid special attention to vehicles
for display and test-drives at dealerships,
training for our sales force, and customer relationship
management.
immediately, one of the best performances
in the industry worldwide. This reflects the
efficiency of distribution circuits, branching
out from 30 centers around the world.
They deal with over 170,000 catalog items
and ship a total of 250,000 orders a day.
Genuine Renault parts make an essential
The International Logistic Network hub at Grand Couronne in Normandy plays a key role in international flows.
Quality & service bring rewards
Patrick blain,
Vice President, Sales
and Marketing and LCV.
Changes deployed enabled us to accompany
the launch of six new products in very good
conditions in 2007, and will underpin our
response to the faster pace of new roll-outs
in 2008.
wHat do you see as tHe main
strengtHs of tHe network?
Our Renault Excellence Plan 4 has now
been deployed worldwide, and gives our
network the capacity to guarantee consistently
high quality service at each stage in
our customer relationships, from initial sale
through to after-sales and maintenance.
Quality of service starts with making the
customer the main focus for each and every
employee. It requires greater standardization
of methods and tools for all of our network’s
activities. It is both an essential means
of improving customer satisfaction and a
source of profitability for our partners.
contribution to customer satisfaction in
repairs and maintenance. Regardless of
repair and model, they are available for ten
years after sales end—and in some cases
even more.
This investment in the Quality & Service
approach is paying off, with Renault gaining
ground in all countries and already ranked
among the top three carmakers in France
and Spain.
How would you sum uP ProsPects
for tHe year aHead?
The nine new models anticipated this year
offer an exceptional opportunity to extend
our cover of the world market. They will
lend fresh momentum to our traditional
markets — France and Europe — while
developing our network in new markets
altogether, opening prospects in highpotential
regions such as Euromed, the
Americas and Asia-Africa.
2007 Renault Annual Report Efforts rEwardEd
57

sales financing
in 2007, rci banQue continued to extend
its international reacH, reinforcing
existing bases on local markets and
moving into new countries to back tHe
internationalization of tHe renault
grouP.
reinforcement of local bases new reacH
Present in the UK through an equally-owned
joint venture for Renault sales financing
since 1977, RCI Banque also provided
financing for Nissan through a wholly-owned
subsidiary. In July 2007, it took full control of
Renault financing and merged the two entities
to form RCI Financial Services, thereby
optimizing the Alliance's financial operations
in the UK and significantly strengthening the
group's presence on the local market.
During the year, RCI Banque also stepped up
operations in the Euromed business region
to keep pace with the Group's expansion in
sales and production. Present in Morocco
under a commercial agreement since 2006,
in October 2007 it was granted official
approval for the pursuit of its development
through a wholly-owned financial subsidiary.
RCI Banque is among the leaders for auto
financing in Morocco.
58
Efforts rEwardEd
RCI Banque also continued to deploy its
services in Central Europe, setting up two
new units in Slovakia and Slovenia, both
dedicated to network finance.
DIAC Customer Service Center in Lyon, France.
with effect from January 1, 2008, Renault
has returned to direct distribution of vehicles,
spare parts and services in Sweden,
Norway, Finland and Demark. RCI Banque
has backed this up with the direct provision
of financing in the four Nordic countries from
the same date through a newly created
results on target
while financial and commercial conditions
were more testing in 2007, RCI Banque made
a full contribution to the implementation of
Briefing at RCI Banque headquarters.
branch in Sweden and a network of local
partnerships for customer financing. The
move into Scandinavia is part of a general
policy of international growth also illustrated
by a commercial agreement in Ukraine to
allow local customer financing to start up
in 2008.
Renault Commitment 2009, achieving an
operating margin in line with its objective
thanks to the development of its services.
2007 Renault Annual Report

PROPORTION OF NEW VEHICLES FINANCED
PROPORTION (RENAULT, NISSAN, OF DACIA, NEW RENAULT VEHICLES SAMSUNG FINANCED MOTORS)
PROPORTION
(RENAULT, NISSAN,
OF
DACIA,
NEW
RENAULT
VEHICLES
SAMSUNG
FINANCED
MOTORS)
(RENAULT, 35 NISSAN, DACIA, RENAULT SAMSUNG 33.6% MOTORS)
35
30
30 35
25
25 30
20
20 25
15
15 20
10
10 15
5
10 5
0
05
0
32.1%
32.1%
32.1%
RCI BANQUE
RCI
GROUP
BANQUE
GROUP
RCI BANQUE
GROUP
32%
32%
32%
FRANCE
FRANCE
FRANCE
NUMBER OF VEHICLES FINANCED IN 2007 (NEW AND USED VEHICLES)
NUMBER OF VEHICLES FINANCED IN 2007 (NEW AND USED VEHICLES)
NUMBER AMERICASOF
VEHICLES FINANCED IN 2007 (NEW AND USED VEHICLES) FRANCE
46,396 AMERICAS
279,438 FRANCE
AMERICAS 46,396
279,438 FRANCE
46,396 ASIA-AFRICA
279,438 EUROPE
31,916 ASIA-AFRICA
497,146 EUROPE
ASIA-AFRICA 31,916
497,146 EUROPE
31,916 EUROMED
RCI BANQUE TOTAL 497,146
43,438 EUROMED
RCI 898,334 BANQUE TOTAL
EUROMED 43,438
RCI 898,334 BANQUE TOTAL
43,438
898,334
NEW CONTRACTS (€ MILLION)
NEW CONTRACTS (€ MILLION)
NEW AMERICAS CONTRACTS (€ MILLION)
AMERICAS 365
AMERICAS 365
365 ASIA-AFRICA
ASIA-AFRICA 387
ASIA-AFRICA 387
387 EUROMED
EUROMED 138
EUROMED 138
138
2007 Renault Annual Report
33.6%
33.6%
EUROPE
EUROPE
EUROPE
31.4%
31.4%
31.4%
EUROMED
EUROMED
EUROMED
26.6%
26.6%
26.6%
ASIA-
AFRICA
ASIA-
AFRICA
ASIA-
AFRICA
FRANCE
FRANCE 3,283
FRANCE 3,283
EUROPE 3,283
EUROPE 5,264
EUROPE 5,264
TOTAL RCI BANQUE5,264
TOTAL 9,438 RCI BANQUE
TOTAL 9,438 RCI BANQUE
9,438
26.2%
26.2%
26.2%
AMERICAS
AMERICAS
AMERICAS
rci banQue launcHes carte bleue visa
card in france
RCI Banque launched its own Visa
Renault card in France at the end of
2007, and with it a new service for
Renault customers. The card is offered to
all customers of the Renault network and
is also available on a dedicated internet
site. It can be used for payments, cash
withdrawals and as a credit card, and
carries special benefits at Renault and
its partners. Under a loyalty program,
users get points for each payment made;
these can be cashed in at Renault and
partner businesses, or exchanged for Air
France tickets. Valid worldwide through
the Visa network, the card lets holders
pay up front with free deferred debit, or
draw on an associated credit line to pay
in ten separate installments or in small
monthly payments. A host of advantages
that underscore the commitment of
RCI Banque, Renault and its network to
serving customers better.
Efforts rEwardEd 59

formula 1
renault took tHird Place on
tHe Podium for tHe 2007 fia*
formula 1 constructors' world
cHamPionsHiP.
a more difficult year
Following two victorious seasons, Renault
had a more difficult year, but was nonetheless
in the top three. when FIA, the governing
body for Formula 1 racing, announced in
2006 that only one tire supplier, Bridgestone,
would be allowed from 2007 on, Renault
knew that it would be facing a challenge
after the years of successful partnership
with its former supplier.
“we are paying the price for our 2006 season,”
commented Flavio Briatore, Managing
Director of Renault Formula 1 Team, at the
time. “Fighting it out to the very last race to
win the 2006 titles hampered our preparations
for 2007.”
Not that there was any letup in the efforts
of the teams in Viry-Châtillon in France and
Enstone in the UK — charged, respectively,
with design and development of engines
and chassis — who put all their knowhow
to work to correct teething problems
with the Renault R27. These took driver
Heikki Kovalainen to his first and only
podium placing for the season at the
Japanese Grand Prix.
The lags accumulated at the beginning of
the season put the championship out of
reach, and the decision was thus taken
to focus development efforts on 2008. As
Flavio Briatore puts it, “The 2007 season
was disappointing, but it also taught us a
lot. we were a bit late in getting our program
for 2007 into gear and we had a difficult
time adapting to Bridgestone tires. That was
unsettling and we weren't able to catch up
over the season. But I don't see why we
can’t take a serious option on the 2008
Championship. we now know how to build
a chassis around Bridgestone tires and our
G.Fisichella at the wheel of a Renault in the Belgian Grand Prix. Renault F1 Team at the Malaysian Grand Prix.
60
Efforts rEwardEd
teams haven't changed since we took the
titles in previous years. They know how to
design a fast car. I have a good feeling about
the prospects.”
This determination to move back up to the
top of the field as quickly as possible took
concrete form with the selection at year-end
2007 of a team of top-flight drivers for the
season ahead. In 2008, Fernando Alonso,
twice world champion, will wear the Renault
colors again alongside Nelson Piquet, Jr.
The pair will be joined by young French
driver Romain Grosjean, a member of the
Renault Driver Development and Euroseries
2007 Formula 3 Champion programs, as
test driver.
The importance of this planned return to
the front of the field in 2008 goes beyond
sporting results, since it will also provide
support for achieving the goals defined
in the Renault Commitment 2009. These
emphasize quality targets, aiming to place
Laguna among the top three for quality in its
segment, which are very much akin to the
Renault F1 Team's goal of a podium placing
in each Grand Prix.
Renault's participation in Formula 1 racing
also eases access to new markets, since the
image and recognition won on the course
are a major source of momentum for brand
development on the four continents where
the races are held. It can thus make an
essential contribution to meeting sales targets
through to 2009.
*Fédération Internationale de l’Automobile.
2007 Renault Annual Report

enault sPort
tecHnologies
tHe 2007 “world series by renault” season tHat
ended on tHe barcelona track on october 27
continued tHe successes of tHe two Previous
years. meetings attract growing numbers witH an
exciting combination of racing and a variety of
accomPanying events.
a Profitable
business unit
The 2007 world Series by Renault season
proved an immense success, bringing
total attendance since the event began in
2005 up to nearly 1.8 million. The season
started in April with a meeting in Zolder,
Belgium, followed by others in Hungary,
the UK, France and Portugal, then the closing
races in Barcelona on October 27. In
addition to the international Championships
themselves, world Series meetings are the
occasion for demonstrations by the ING
Renault Formula 1 team and displays from
the Renault Heritage Foundation, as well
as concerts.
Races are organized around three international
championships — Formula Renault
3.5, Formula Renault 2.0 Eurocup, and the
Megane Eurocup Trophy. In the Formula
Renault 3.5 championship, some 30 aspiring
Formula 1 drivers compete at the
wheels of identical 425 bhp racing cars,
while Renault 2.0 Eurocup cars have given
stars like Lewis Hamilton, Kimi Raikkonen
and Felipe Massa the opportunity to reveal
their potential. The 20 drivers in the Eurocup
Megane Trophy events come from a background
in go-karting and have set their
sights on Formula 1.
Renault Sport dealers share a passion that
is reflected in their constant readiness
to provide customers with professional
advice, offering sports car enthusiasts the
world series
formula renault 3.5
Drivers participating in Formula Renault
3.5 events aim to follow in the footsteps
of Robert Kubica, who competed in the
2005 season before going on to win a
place in Formula 1. A new version of the
Formula Renault 3.5 rolled out at the end of
September 2007 will be on the tracks for the
2008 season. Featuring a chassis modeled
after the Renault F1 R27, it is powered by a
500bhp V6 flexifuel engine.
Air extractor in the Clio Renault Sport
world Series By Renault.
The new Formula Renault 3.5 on
the Marigny Cours track in France.
141 sPecialized renault sPort outlets
quality solutions they look for in products
and services. This is the foundation for
close, ongoing relationships between
customers and their dealers, from
the delivery of Renault sports cars to
customized after-sales service. In 2007,
86 new dealerships opened in Europe.
clio rs world series
limited edition
Unveiled at the world Series by Renault
event at the Magny Cours track in France
on September 22 and 23, 2007, Clio RS
world Series Limited Edition features a
Cup chassis as standard equipment
and is powered by a 2.0 16V atmospheric
engine.
The engine combines responsiveness
(215 Nm at 5,500 rpm) with power
(200bhp at 7,250 rpm) and is equipped
with a 6-speed manual transmission
developed through the Renault-Nissan
Alliance. The distance from the fifth to
the sixth gear has been lengthened to
improve acoustic performance, particularly
for motorway driving.
2007 Renault Annual Report Efforts rEwardEd 61

otHer investments
and PartnersHiPs
a major sHareHolder of nissan and
ab volvo, in 2007 renault stePPed
uP its strategy of PartnersHiPs to
Quicken tHe Pace of international
exPansion.
ab volvo
Renault's truck-making businesses, Renault
VI and Mack, were merged with Volvo's in
January 2001 to form AB Volvo. Renault
now has a 21.80% equity interest in the
company and holds 21.30% of voting rights,
which makes it the leading shareholder
of Europe's largest manufacturer of heavy
trucks, ranked second worldwide.
within this framework, the Volvo, Renault
Trucks and Mack brands continued to
develop of their individual identities while at
the same time complementing each other in
terms of products and geographical scope.
Products on offer through a sales network
spanning 130 countries in Europe (including
Russia), Asia, North and South America
cover the full range from the lightest to the
heaviest trucks on the road. AB Volvo's positions
in Asia were recently reinforced with
the acquisition of Japanese truck-maker
Nissan Diesel.
In 2007, a total of over 236,000 trucks were
sold worldwide, compared with 219,931
in 2006. Nissan Diesel sales have been
consolidated from April, 2007.
International expansion continues, as illustrated
in April 2007 by Volvo's decision to
invest in a new truck-assembly facility in
Russia to meet fast-growing demand in
CIS countries. In July, subsidiary Renault
Trucks followed this up with the signature of
an agreement with Turkey’s Karsan for the
production of trucks to be sold in Turkey and
neighboring countries.
nissan
(see page 40)
62
Efforts rEwardEd
extending local Presence and PartnersHiPs
Iran
Renault's industrial operations in Iran are
headed up by Renault Pars, a joint venture
set up in May 2004, in which Renault has a
51% interest. The remaining 49% is owned
by AIDCo (26% Iran Khodro, 26% Saipa and
48% IDRO). Production started up in 2007,
first in March at the Pars Khodro plant and
then in May at Iran Khodro. A total of 15,000
Tondars, the Iranian name for Logan, were
made during the year. Renault also has a
project to assemble Megane models with
Pars Khodro.
India
In 2007, Renault's entry into the Indian market
took concrete shape with the commercial
launch of Logan in partnership with Mahindra
& Mahindra. After six months on the market,
Logan had already taken its place among the
top three for its segment with 15% market
penetration. It also topped the list for initial
quality in JD Power ratings.
ab volvo’s financial results (IN € OR SEK MILLION)
Another important step forward in this strategic
market came with plans to build a second
production site together with Nissan. A
memorandum of understanding signed with
the Government of Tamil Nadu in February
2007 provides for the construction of India's
largest automobile manufacturing site near
the state capital Chennai. This will also be
the first factory jointly planned and designed
within the framework of the Alliance.
During the year, Renault and Nissan set up
Renault Nissan Technology and Business
Centre India (RNTBCI), a joint venture based
in the Mahindra world City technology park
on the outskirts of Chennai. From 2008 on, it
will be the base for the partners' engineering
and IT operations.
Renault and Nissan also began discussions
with a new partner, Bajaj, to launch an ultralow-cost
vehicle. Bajaj is India's number-two
motorcycle manufacturer and the leader for
motorized tricycles.
SEK EUR*
russia
Renault owns 94% of Avtoframos in association
with the City of Moscow. Considering the
success of Logan in Russia, where 67,844
units were sold in 2007, the two partners
signed a new agreement in May 2007 to
provide for an increase in Logan production
capacity to over 160,000 a year from mid-
2009. Renault is to invest $150 million for
new facilities, while the City of Moscow will
contribute land and buildings.
At a meeting in Togliatti on December 8,
Renault and AvtoVAZ signed a memorandum
of understanding that will provide the
basis for AvtoVAZ to renew and extend its
range, bolstering the Lada brand and consolidating
its number-one place in Russia
while preserving its identity. The exchange
of technology and know-how play an important
part in this. Russian Technologies, the
main shareholder of AvtoVAZ, will retain its
interest, ensuring the continued support of
the Russian government.
2007 2006
CHANGE
2007/2006
SEK EUR*
NET REVENUES 285,405 30,855 + 10.00% 258,835 (1) 26,832
OPERATING INCOME 22,231 2,403 + 9% 20,399 2,205
NET INCOME 15,029 1,624 - 8% 16,318 1,765
DIVIDEND PER SHARE IN SEK 25 FOR FISCAL
DIVIDEND ExTRAORDINAIRE IN SEK 25 2006
198.50%
YEAR-END 31/12 IN SEK
VOLVO A SHARE 108 + 15.50% 93.52
VOLVO B SHARE
* 1 EUR = 9,25 SEK
108.5 + 19.70% 90.67
(1) RESTATED
16.75 FOR FISCAL
2005
2007 Renault Annual Report

South africa
An agreement was sighed with Nissan in
May 2006 for the assembly of Logan Pickup
and Sandero ranges from the end of 2008.
Sandero will be assembled by Nissan and
distributed by Renault South Africa, while
Logan Pickup will be assembled and sold
directly by Nissan under its own brand.
Nissan will buy completely knocked down
parts from Renault and finance all productspecific
investments.
Singapore
A sales subsidiary set up in June 2007
imports Renault vehicles and spare parts for
sale to local dealership wearnes.
2007 Renault Annual Report
morocco
In September 2007, Renault signed an
agreement with the Kingdom of Morocco
for the construction of an industrial site
near Tangiers with access to TangerMed
port facilities. Operations will benefit from
the outstanding infrastructure now serving
northern Morocco. The site will in time have
the capacity to turn out 400,000 vehicles
a year, making it one of the largest centers
for automobile manufacturing in the
Mediterranean area. Initial capacity will be
200,000 vehicles a year for an investment
estimated at €600 million including the
first tranche of €350 million. Additional
product -specific investments of between
HRH Mohammed VI and Carlos Ghosn at the official signing of the memorandum of understanding for
the construction of an industrial site near Tangiers, Morocco.
€200 million and €400 million will be
required, with the actual amount depending
on the variety of vehicles produced.
Renault Logan in Russia.
exPanding tHe
network
Ireland
At the end of October 2007, Renault
acquired Glencullen Distributors Ltd., which
had been its local importer of vehicles and
parts for 21 years. The move will facilitate
deployment of the Renault Commitment
2009 program on this promising market,
where 230,000 vehicles were sold in 2007
for a market share of 3.7%. Following the
acquisition, on November 1, 2007 Renault
set up a subsidiary under the name Renault
Ireland for the distribution of all Renault passenger
cars and light commercial vehicles
in the country.
Scandinavia
Since January 1, 2008 Renault has taken
over distribution in Sweden, Norway, Finland
and Denmark. through subsidiary Renault
Nordic, set up with an investment of €24
million. Previously — since 1982 — sales
on these markets had been handled by Volvo
Car under an agreement that expired on
December 31, 2007. The target is to raise
the number of passenger cars and light
commercial vehicles sold from 35,000 in
2006 to 45,000 by 2009.
Logan Renault on the road in India.
Efforts rEwardEd 63

4 sustainable
develoPment drives
corPorate strategy
A core component of renAult commitment 2009, sustAinAble
development is Also A priority every dAy. in 2007 we lAunched
the renAult eco 2 lAbel, stepping up our commitment to the
environment, And confirmed our investment in diversity.

Human resources
renault's Human resource Policies center
on tHe dedication and comPetence of our PeoPle.
tHese are essential underPinnings for tHe success
not only of renault commitment 2009, but of all tHe
Projects to follow. wHicH makes tHem critical to
our ability to maintain HigH levels of Performance
over time.
management Quality and staff motivation
The quality of management is fundamental to
the success of Renault Commitment 2009.
In 2006, we addressed this very theme
with a Group-wide staff survey to measure
perceived management quality and staff
motivation. Conducted with the assistance
of an international consultancy, the initiative
identified areas for improvement for action
plans within each department, subsidiary
and national organization. These plans are
the components of a collective endeavor,
calling on all staff members to join forces
to enhance standards of management and
levels of motivation Group-wide.
Over 100,000 employees took part in the
survey, setting the response rate at a high
87%. The results, presented to all staff in
December 2006, showed high levels of personal
commitment and attachment to the
business. They were followed up with over
66
one thousand plans for improvement, implemented
at both corporate and local levels.
A fresh survey was conducted at the end of
2007 to identify changes from the previous
year, define new directions for progress, correct
action under way and adopt new action
plans where appropriate to enhance management
quality and reinforce staff motivation for
the year ahead. The findings are integrated
into Group management processes as instruments
for ongoing progress.
Clearly, training plays an essential role in
the drive to enhance management quality,
and programs in this area have been
optimized to factor in the findings of the
Commitment survey. Management development
programs are organized at corporate
and regional levels and by business function.
Hr as a vector for managing excellence
gérard leclerc,
Senior Vice President,
Group Human
Resources
you took uP your Present Position
in 2007. How would you
exPlain your vision of Human
resources?
Human resource management is
strategically vital, since it is all about the
development of the men and women who
are the mainsprings for Renault's success.
Our job is to act as a vector for the
management of excellence, which means
backing up the deployment of strategy
and the operation of our teams, ensuring
effective ties between our corporate leaders
and individual staff members. By the same
token, it means ensuring consistent human
resource management in all parts of the
world with homogenous, cost-effective
structures that deliver the best.
Hr structures were overHauled
in Q1 2007. wHy was tHat?
The new organization has two clearly
defined objectives. Firstly, to ensure
that the presence of HR teams has
real meaning for all staff members, by
appointing local representatives to support
management and at the same time listen
attentively to what employees have to
say. More generally, the new structure is
designed to reinforce our management of
competencies in keeping with a unified,
SuStainable development driveS corporate Strategy
In 2007, the master plan for these programs
was updated to clarify objectives:
At the corporate level: encouraging crossfunctionality
and the development of a
common culture;
By main business function: fostering
management by performance;
At the local/regional level: reinforcing
common management practices for local
entities.
Together these initiatives came into their
own in engineering units in the Paris region,
where developments led us to deploy a
special program. This included appointment
of a manager with global responsibility for
all entities, a drive to improve workplace
relationships, and a heightened focus on
training in personal efficiency and stress
management.
global vision. which means in particular
the presence of Career and Competency
Development Advisers within each global
business function.
Local and global structures are directly
attached to the Corporate Human Resource
Department, which is the focus of HR
expertise for the group as a whole and
implements its policies in all parts of the
world with the support of HR management
in each Business Area. To back the
deployment of the new organization, local
human resource managers and Career
and Competency Development Advisers
benefit from targeted training programs,
with modules designed for each business
line and timed to match human resource
schedules.
Going on shift at the Bursa factory in Turkey.
more information at
www.renault.com
2007 Renault Annual Report

comPetencies Program
Operating in a context of global competition,
the automobile industry is founded on specialized
competencies and know-how. which
means that developing these competencies
is crucial to our competitive differentiation.
Since 2002, we have implemented a crossfunctional
program for the prospective management
of human resources under the name
Renault Competencies.
Renault Competencies aims to ensure that we
have the resources we need to achieve strategic
targets at all times. Its guiding principle is
that skills and know-how are what really make
the difference.
Under the guidance of management in each
area of business and with the support of
human resource teams, the program centers
on identifying and developing the competencies
needed to realize Commitment
2009 objectives and meet future challenges.
To this end, 48 Competency Managers
appointed by the CEO take responsibility
for defined areas of competency, applying
a cross-functional approach with worldwide
scope. They are assisted by technical advisers
as well as human resource managers
and Career and Competency Development
advisers in the sector concerned. Together,
Human resource
comPetency managers in
cHarge of sPecific fields.
48>>
they identify the strategically critical competencies
that the Group must have, as
well as the new competencies needed to
back international expansion. They then
evaluate shortfalls in each area as the bases
for development plans, applying levers that
include recruitment and career development
— both areas where the Careers Renault
online service can make an important contribution
— plus training and organization.
Renault Competencies is based on continuous
progress. Results are reviewed annually
before defining the objectives for the year
ahead in a constant drive to reinforce the
competitiveness of our business, the performance
of our teams and the employability
of our people.
tHe renault grouP committee
Today, Renault is a global, multicultural business,
which makes it all the more important
to promote and share the values that
ensure our unity and cohesion. These values,
which include in particular the attachment to
employee representation, were reaffirmed in
the Declaration of Fundamental Employee
Rights signed by Renault and employee representatives
in 2004.
In keeping with this, we place special emphasis
on the continuity and quality of dialog with
our employees and their representatives at all
levels — which is part of the processes of
technical, economic and social change associated
with the deployment of our strategy.
The priority is to favor decision-making close
to the realities of the business, preparing for
changes ahead and smoothing transition by
seeking balance and convergence between
the interests of the business and those of its
employees.
Renault applies the same principles of
responsibility to employees in all the
Human resources in tHe renault grouP — key figures, december 31, 2007
HEADCOUNT HOURS OF TRAINING
ACCIDENT FREQUENCY
RATE
SAVINGS GENERATED
BY EMPLOYEES' IDEAS
FOR PROGRESS
EMPLOYEES ADMIN-
ISTERED THROUGH
GROUP IT SYSTEMS
130,179 4.9 millions 3.54 €135 million nearly 100,000
GROUP COMMITTEE
MEMBERS FROM
OUTSIDE FRANCE
34 members from
19 countries
Renault Human Resources Convention.
countries where it operates, as illustrated
by the definition of a Group policy for relationships
with employee representatives laid
down in October 2005. In 2007, this again
contributed to the frequency and quality of
exchanges with representatives.
while relationships with employee representatives
naturally vary according to the
country concerned and the particular requirements
of national laws, we also have a Group
Committee representing employees in all
parts of the world. This provides an effective
framework for trans-national debate
on our business and strategy. Following the
renewal of its founding agreement on April
26, 2007, two new standing members joined
the Committee, one from Poland and the
other from Romania. It also welcomed an
observer from Russia. As a result, it is now
made up of 34 representatives from majorityowned
subsidiaries in 19 counties spanning
the European Union, Brazil, Argentina, South
Korea, Turkey and Russia.
For more information about Renault's policies,
initiatives and performance in the field of
human resources see:
the Renault registration document
the Sustainable Development page on
the Renault corporate website at
www.renault.com
2007 Renault Annual Report SuStainable development driveS corporate Strategy 67

environment
in 2007, renault's environmental
Program took an imPortant steP
forward witH tHe launcH of tHe
renault eco 2 label. more tHan
ever, tHe renault range stands
for environmental Quality and
affordability.
demanding aims
Renault has set its sights high for environmental
standards, as illustrated by the
targets for the reduction of CO 2 emissions
defined in 2006 within the framework of
the Commitment 2009 program. Our environmental
program is structured around
three goals — to rank among the three
best performing automanufacturers for
CO 2 emissions, to offer a range of biofuelenabled
vehicles, and to develop alternative,
environment-friendly technologies.
Targets for CO 2 emissions have already been
achieved, and Renault is now among the top
performers, with powertrains showing the
rewards of nearly two decades of efforts to
cap fuel consumption.
An example is the 100bhp TCE gasoline
engine, which made its debut in May 2007
on Clio and now also powers New Twingo.
Demonstrating Renault's expertise in downsizing,
it consumes only 5.9 liters for 100 km
(2.143 per 100 miles), setting CO 2 emissions
at 140g per km. The same expertise has
been put to work for diesels, as illustrated
by the 105bhp 1.5 dCi equipping Megane,
which is fitted with a particulate filter and
emits only 120g of CO 2 per km. The same
engine, which also equips New Laguna in a
110bhp version, takes 5.1 liters for 100 km
in a mixed cycle, setting CO 2 emissions at
130g per km.
Convinced that biofuels are an essential
part of the drive to limit greenhouse gas
emissions, Renault is one of the only manufacturers
with a dual offering of biofuelenabled
vehicles in Europe. Since the end
of 2006, our group has made B30-enabled
Trafic and Master, respectively equipped
with 2.0 dCi and 2.5 dCi engines, available
for corporate fleets. In June 2007,
the group launched a biofuel version of
the Megane sedan and Master equipped
with 105bhp 1.6 16v engines. In 2008,
the offering will be rounded out with the
first biofuel-compatible diesels for passenger
cars, including New Twingo with a
B30-compatible 65 bhp 1.5 dCi engine.
Renault is also naturally taking a keen
interest in second-generation biofuels
and since March 2006 has participated in
research conducted through the Alliance
for Synthetic Fuels in Europe (ASFE), which
brings together European auto manufacturers
and oil companies.
Turning to alternative technologies, Renault
draws on the resources of the Alliance with
Nissan for developments in areas ranging from
hybrid and electric vehicles to fuel cells.
more information at
www.renault.com
68 SuStainable development driveS corporate Strategy
The paint used at Renault’s Sandouville plant is water
soluble, helping to limit the environmental impact.
Logan Eco 2 Concept, presented at
the Bibendum Michelin Challenge in Shanghai,
emits just 71g of CO 2 per km — a record low.
2007 Renault Annual Report

enault eco 2
Launched in May 2007, the Renault eco 2 label for affordable, environment-friendly cars
marks a new step forward in the efforts we have deployed for over more than a decade
to limit the impact of our activities on the environment. Renault eco 2 vehicles must
meet three requirements: production on an ISO 14001 (1) certified site, emissions under
140g per km or compatible with E85 ethanol or B30 (2) biodiesel fuels; and components
including at least 5% recycled plastic (3) .
(1) The 14001 certification award by the International Standards Organization testifies to the methodical
pursuit of progress in limiting the impact of operations on the natural environment. This concerns in
particular reductions in consumption of energy and water, visual and acoustic impacts, atmospheric
emissions and release of waste water. With the recent certification of the AvtoFramos plant in Russia
and the Somaca site in Morocco, all Renault sites were ISO 14001 compliant by the beginning of
2008.
(2) Compliance with a 140g per kilometer limit on CO2 emissions can be achieved through downsizing
and related technologies or the use of biofuels. The plants used to produce biofuels absorb CO2 from
the atmosphere in the process of photosynthesis that allows them to grow. Compared with the wellto-wheel
cycle for gasoline, the reduction in emissions can reach 70% for E85 bio-ethanol and 30%
for biodiesel.
(3) In addition to being designed to allow 95% of its mass to be reused at the end of its life — through
recycling of materials and generation of energy — Renault eco2 vehicles include at least 5% recycled
plastic. 10% of Clio II mass is thus recycled plastic (20 kg and New Twingo 9% (15 kg).
a Proactive aPProacH to environmental Planning
alice de brauer,
Vice President,
Strategic Environmental
Planning
wHat is renault's aPProacH to
dealing witH environmental
cHallenges?
Proactive, not reactive! Our environmental
management is structured as a network
encompassing all operations our own and
those of our suppliers. Clearly defined targets
are set to limit of all harmful impacts
on climate change, water quality, waste,
noise and quality of the air. At Renault,
environmental management concerns
every stage in the product life cycle from
vehicle manufacture and customer use,
from fuel consumption and transformation
through to the treatment and reuse of endof-life
vehicles.
And that pays, as the results show. Over
the past three vehicle generations, fuel
consumption and, by the same token,
CO 2 emissions, have been cut by 30% for
Clio gasoline models and Megane diesels.
Harmful emissions have in some cases
been reduced by as much as 70% or even
90%. On the production side, energy use
has been cut by a quarter, and both water
consumption and waste volumes more
than halved.
wHat is beHind tHe renault eco 2
label?
In February 2006, our Chief Executive publicly
stated our environmental undertakings
within the framework of the Commitment
2009 program: selling one million cars
with CO 2 emissions below 140g per kilometer,
including a third with emissions
below 120g per kilometer, and a dual offer
of biofuel-enabled cars, using E85 for gasoline
engines and B30 for diesels. we also
wanted to deliver a clear message to our
Twingo Biodiesel on show at the 2007 Paris Agricultural Fair.
Megane Bioethanol at the 2007 Barcelona Auto Show.
= + +
manufacturing Emissions recycling
customers. The eco 2 label does just that
— it tells them which cars perform best
in terms of the criteria adopted, which are
emission levels, production on sites with
environmental certification and reusability
of end-of-life vehicles.
How do you feel about renault's
environmental acHievements in
2007?
I think we have a right to be proud of what
has been achieved with the support of all
our staff and our suppliers for environmental
progress. Renault recognizes and
accepts environmental challenges, and we
believe that the drastic changes they entail
for our industry should be seen as opportunities
rather than constraints. we made
significant progress in 2007, a year that
marked a new stage in our environmental
commitment. But however proud we may
be of that progress, we are also very aware
that it is only the beginning of what is going
to be a lengthy process of change.
2007 Renault Annual Report SuStainable development driveS corporate Strategy
69

social resPonsibility
Promoting road safety tHrougH
a range of international Programs
remains a focus of renault’s
commitment to society at large,
togetHer witH many otHer initiatives
for Progress and well-being.
safety for all
Since its launch in 2000, Renault’s Safety
for All program has made nearly ten million
children aged between seven and 11
more aware of essential aspects of road
safety. In 2007, the program was on offer
in 22 countries, making it the largest ever
initiative by an automaker to promote road
safety round the globe. Safety for All equips
primary school teachers with “Kids on the
Road” lesson kits and backs this up with
drawing competitions for added interest and
motivation. In 2007, competitions were held
in eight countries – Cyprus, France, Mexico,
Poland, Portugal, Russia, Switzerland and
Turkey – and attracted nearly 6,000 entries
illustrating the chosen theme of “getting to
school safely”. winners from each country
met up for the final at Disneyland Paris on
June 8 to 10.
action wHere it counts: renault as sPonsor
Along with its subsidiaries around the
world, Renault is involved in a wide variety
of sponsorship programs and public-interest
initiatives that together represented outlays
of €8 million in 2007. Action focused in
particular on education, training and the
promotion of road safety, but also involved
support of social and humanitarian causes
and culture, in each case factoring in local
conditions to optimize impact. To cite just a
few examples:
The Renault Foundation provides support
for foreign students and exchange
programs that enhance the cross-cultural
skills of promising individuals.
Since 2001, Renault has been a partner
in South Africa’s Valued Citizens initiative,
which promotes responsible citizenship
through action in public schools to foster
a culture rooted in the values of the South
African Constitution. Renault is proud of
its contribution to the continuing success
of this program, which has involved over
395,000 young people and more than
3,350 educators and schools to date.
Reagroup, Renault’s distribution subsidiary
for Europe, has set up its own fund to
provide financing for humanitarian action
in France, Africa and Asia. Its achievements
in this area have won recognition
with Reagroup's nomination for the
2007 Human Resource Initiative awards
70 SuStainable development driveS corporate Strategy
organized by French press titles Le Figaro
and l’Express, together with consultants
Hudson.
In Slovenia, Renault subsidiary Revoz
finances equipment purchases for hospitals
in Novo Mesto, and contributes to
action for the rehabilitation of the Krka
river.
In Colombia, Sofasa, which assembles
and distributes Renault vehicles, offers its
support for world Vision and its programs
to help underprivileged children.
Renault Iran supports an association collecting
funds to help children suffering
from cancer.
In South Korea, Renault Samsung Motors
Mexican children hard at work on Safety for All.
makes donations in favor of the aged,
orphans and disaster victims. It also supports
a tree-planting initiative with local
people in the village of Shin-ho.
more information at
www.renault.com
2007 Renault Annual Report

enault do brazil:
tHe sHoe tree nursery
Renault provides financial and other support
for this nursery school in Sao Jose dos
Pinhais and its 200 pupils aged under six.
The emphasis is on social and environmental
progress, as illustrated by the school's
two main projects.
Environmental education: the school has
set up a system of selective waste collection
that pupils learn to apply. This is an
effective way to raise awareness of the
need for environmental responsibility not
only among the children themselves but
also their parents and teachers. In action,
Raising awareness of road safety in Aguascalientes, Mexico.
active suPPort for diversity
aude de thuin,
President of the
women’s Forum
How do you view renault’s
involvement witH tHe women’s
forum?
It’s been very positive. But the women’s
Forum also represents an excellent
opportunity for a major industrial group like
Renault — it’s a means of demonstrating
the group’s commitment to diversity,
the materials recovered after sorting are
sold through Renault, with all proceeds
going to the school.
Literacy and culture: Renault provides
financial support to build libraries and train
staff, helping to bring children together
for creative learning. Designed to make
reading a pleasure and spur interest in
the arts, sciences and other subjects, with
access to non-fiction as well as fiction, the
library also contributes to the promotion of
local culture.
and especially, recognition of the role
played by women in business. Renault’s
investment has grown over time, as has
that of other big companies such as Suez
and Orange. This reflects the growing
awareness at the very top of the company
of the role played by women. Renault
was particularly active at our Deauville
Forums in 2006 and 2007, highlighting
its own international commitment through
significant contributions to debates on
major world issues.
How do you assess renault’s
commitment to diversity?
Renault represents a benchmark among
the many businesses participating in the
women’s Forum. The CEO of Renault lent
his support early on, speaking at our very
first event, and in 2007 the company
supported “women for Education”, a widereaching
program dedicated to improving
the lot of women and girls around the
globe, and at the same time promoting
economic development. Our debates are
lively, which is all for the better, giving
rise to constructive exchanges in a public
forum. They have helped the women’s
Forum to emerge as a unique forum for
progress. In 2007, there were 1,200
participants from 70 countries all around
the world.
Renault Logan Hi-Flex
in Rio de Janeiro, Brazil.
“Stick to the rules and come home in one piece” -
a winning Safety for All entry from the
Ilkogretim Okulu school in Antalya, Turkey.
PartnersHiP
witH tHe women's
forum
Continuing its partnership with the
women's Forum, in 2007 Renault
backed the Elle Foundation's women for
Education awards for initiatives in support
of training and education for women in all
parts of the world.
Renault CEO Carlos Ghosn presented
the award together with a donation of
€100,000 to the Afghanistan Libre association,
which sets up programs to educate
Afghan girls and women at its center
in Pagham in the Province of Kabul. This
is in keeping with Renault's broader commitment
to training and the promotion of
diversity not only within the business, but
across all segments of the economy and
society at large.
2007 Renault Annual Report SuStainable development driveS corporate Strategy
71

5
sales Performance
and financial results
In 2007, Renault sold 245 mIllIon vehIcles, RepResentIng 2.1%
of the global maRket. the gRoup achIeved an opeRatIng
maRgIn of €1.354 bIllIon, oR 3.3% of Revenue, whIle net Income,
Renault shaRe, was €2.669 bIllIon.

sales Performance
renault grouP sales worldwide
The Renault group sold 2.5 million vehicles
worldwide in 2007, an increase of 2.1%
on 2006.
Renault’s return to growth in 2007 was
driven in the second half by new product
launches, including New Twingo, New
Laguna, New Laguna Estate, Sandero and
QM5, the Group’s first crossover vehicle.
74
In the france and europe regions,
which make up a highly competitive
market that expanded 1.5%, Group sales
SaleS performance and financial reSultS
declined by 4.1% from 2006. The situation
turned around in the second half,
however, with a lift from the New Twingo
and New Laguna launches, and sales
rose 4.6% in the last quarter. The Renault
brand has a combined market share of
8.4% for passenger cars and light commercial
vehicles (cars + LCVs) and retains
its leadership in the LCV market, with a
14.2% market share. The Dacia brand is
expanding its customer base and continuing
to grow with Logan and Logan MCV,
renault grouP – worldwide sales by brand and by region (CARS + LCVs)
both of which are innovative concepts in
Europe. Dacia brand sales rose 67.9% to
79,800 units.
outside europe, sales growth quickened.
In the Euromed, Americas and Asia-
Africa Regions, sales rose 16.3% and now
account for 35% of the Group’s total sales,
versus 30% in 2006. Dacia sales rose
1.0%, while the Renault brand’s sales
jumped 25.7%. Renault Samsung Motors
sales slipped 1.5%.
2007* 2006* % cHange
grouP 2,484,472 2,433,610 +2.1
by region
FRANCE 656,523 668,679 -1.8
EUROPE 966,619 1,024,224 -5.6
france + euroPe 1,623,142 1,692,903 -4.1
EUROMED 424,431 380,657 +11.5
AMERICAS 245,197 185,438 +32.2
ASIA-AFRICA 191,702 174,612 +9.8
euromed + americas + asia-africa 861,330 740,707 +16.3
by brand
RENAULT 2,134,484 2,115,572 +0.9
DACIA 230,164 196,378 +17.2
RENAULT SAMSUNG MOTORS 119,824 121,660 -1.5
by veHicle tyPe
PASSENGER CARS 2,080,110 2,042,796 +1.8
LIGHT COMMERCIAL VEHICLES 404,362 390,814 +3.5
* Preliminary figures.
In the euromed region, Group sales
rose 11.5% on the remarkable performance
of the Renault brand, due
notably to Logan’s success in Russia
(67,800 units, versus 49,300 in 2006)
and a strong showing in North Africa,
where sales climbed 9.7%.
In the americas region, Group sales
surged 32.2% amid buoyant market
conditions. Group sales outpaced
market growth sharply. The Group
registered outstanding sales growth
in Argentina (39.0% in a market up by
27.1%), Brazil (42.4% in a market up
by 27.5%), and Venezuela (126.8% in
a market up by 42.0%). Renault is thus
gaining market share in full-growth
countries.
In the asia-africa region, sales were
up 9.8%, lifted by Renault brand growth
of 35.9%. Renault Samsung sales of
117,200 units nearly matched the
record level achieved in 2006, even
though the QM5 cross-over was not
launched until December.
more information at
www.renault.com/finance
2007 Renault Annual Report

enault grouP – registrations (REG’S) and market sHare (MKT SH.) (CARS + LCVs)
sales Performance
in main markets
reg’s
(IN UNITS)
2007* 2006*
2007 Renault Annual Report SaleS performance and financial reSultS 75
mkt sH.
(AS A%)
reg’s
(IN UNITS)
mkt sH.
(AS A%)
france region 626,705 24.8 641,905 26.3
euroPe region 966,538 6.2 1,024,127 6.7
o/w GERMANY 157,968 4.7 173,276 4.7
ITALY 143,800 5.3 142,349 5.6
UK 148,970 5.4 160,286 6.0
SPAIN + CANARY ISLANDS 198,948 10.5 206,326 10.8
BELGIUM + LUxEMBOURG 63,792 9.8 66,986 10.4
POLAND 25,763 7.4 22,475 8.0
france + euroPe regions 1,593,243 8.8 1,666,032 9.4
euromed region 424,431 9.1 380,657 10.2
o/w ROMANIA 134,176 38.2 131,474 45.5
RUSSIA 101,166 3.9 72,484 3.8
TURKEY 91,645 15.4 92,366 14.9
ALGERIA 32,667 16.6 25,629 17.9
MOROCCO 30,151 29.5 26,750 31.7
americas region 245,197 4.6 185,438 4.1
o/w MExICO 18,615 1.7 20,274 1.8
COLOMBIA 39,053 17.3 33,196 18.8
BRAZIL 73,614 3.1 51,682 2.8
ARGENTINA 66,969 12.5 48,196 11.5
asia-africa region 191,702 0.9 174,612 0.8
o/w SOUTH AFRICA 8,407 1.4 15,580 2.5
SOUTH KOREA 117,203 9.3 119,088 10.1
euromed + americas** + asia-africa regions 861,330 2.7 740,707 2.5
* Preliminary figures.
** Excl. North America.
renault grouP - registrations in france + euroPe
regions by model - cars + lcvs (IN UNITS)
2007* 2006* % cHange
TwINGO / TwINGO II 88,714 55,668 +59.4
CLIO / CLIO III 434,561 482,307 -9.9
THALIA 6,581 8,267 -20.4
MODUS 62,825 82,208 -23.6
LOGAN / LOGAN MCV 79,487 47,347 +67.9
MÉGANE / MÉGANE II 488,653 546,134 -10.5
LAGUNA / LAGUNA III 71,397 77,249 -7.6
VEL SATIS 3,043 4,877 -37.6
ESPACE / ESPACE IV 40,624 41,366 -1.8
KANGOO 142,061 159,815 -11.1
TRAFIC / TRAFIC II 88,950 76,424 +16.4
MASTER / MASTER II 75,963 73,886 +2.8
MASCOTT** / MASTER PROPULSION 6,897 9,851 -30.0
MAxITY 2,804 - -
OTHER 683 633 +7.9
registrations in france + euroPe 1,593,243 1,666,032 -4.4
* Preliminary figures.
** Mascott is distributed by Renault Trucks, a subsidiary of AB Volvo.
renault grouP - registrations in euromed, americas
and asia-africa regions by model - cars + lcvs
(IN UNITS)
2007* 2006* % cHange
TwINGO / TwINGO II 14,176 13,264 +6.9
CLIO / CLIO III 97,734 92,179 +6.0
THALIA / SYMBOL 94,393 85,340 +10.6
MODUS 1,435 4,157 -65.5
SANDERO 279 - -
LOGAN / LOGAN MCV 287,245 200,210 +43.5
MÉGANE / MÉGANE II 149,750 125,495 +19.3
LAGUNA / LAGUNA III 4,152 4,199 -1.1
VEL SATIS 66 82 -19.5
ESPACE / ESPACE IV 139 289 -51.9
SM3 29,726 31,853 -6.7
SM5 73,330 72,270 +1.5
SM7 14,238 17,537 -18.8
QM5 2,518 - -
KANGOO 72,271 64,556 +12.0
TRAFIC / TRAFIC II 4,064 3,933 +3.3
MASTER / MASTER II 15,412 13,027 +18.3
MASCOTT** / MASTER PROPULSION 280 452 -38.1
MAxITY 52 - -
OTHER 70 11,864 -99.4
registrations in euromed +
americas + asia-africa
861,330 740,707 +16.3
* Preliminary figures.
** Mascott is distributed by Renault Trucks, a subsidiary of AB Volvo.

sales Performance
total industry volume - registrations - cars + lcvs (IN UNITS)
main renault grouP markets 2007* 2006* % cHange
france region 2,526,005 2,440,580 +3.5
euroPe region 15,513,732 15,333,358 +1.2
o/w GERMANY 3,376,044 3,670,406 -8.0
ITALY 2,725,861 2,553,329 +6.8
UK 2,752,175 2,678,943 +2.7
SPAIN + CANARY ISLANDS 1,890,694 1,909,241 -1.0
BELGIUM+ LUxEMBOURG 648,104 641,083 +1.1
POLAND 347,378 280,020 +24.1
france + euroPe regions 18,039,737 17,773,938 +1.5
euromed region 4,610,779 3,658,517 +26.0
o/w ROMANIA 351,445 289,066 +21.6
RUSSIA 2,569,522 1,886,824 +36.2
TURKEY 594,762 617,838 -3.7
ALGERIA 196,853 142,955 +37.7
MOROCCO 102,202 84,277 +21.3
americas 5,373,872 4,558,090 +17.9
o/w MExICO 1,093,988 1,132,417 -3.4
COLOMBIA 225,504 176,273 +27.9
BRAZIL 2,339,920 1,834,581 +27.5
ARGENTINA 534,199 420,304 +27.1
asia-africa 21,889,036 21,139,614 +3.5
o/w SOUTH AFRICA 587,131 619,968 -5.3
SOUTH KOREA 1,256,598 1,182,680 +6.3
euromed + americas** + asia-africa regions 31,873,687 29,356,221 +8.6
* Preliminary figures.
** Excl. North America.
76 SaleS performance and financial reSultS
2007 Renault Annual Report

international rollout of tHe logan Program
since
logan unit sales
dacia brand
2007* 2006* 2005 2004 sePt. 2004
FRANCE 32,684 18,791 9,798 - 61,273
EUROPE 46,850 28,605 20,511 2,080 98,046
EUROMED 146,793 133,707 103,301 20,751 404,552
o/w Romania 101,799 96,037 88,275 20,274 306,385
Morocco 12,638 12,723 2,499 - 27,860
Algeria 9,090 8,560 2,819 - 20,469
AMERICAS 504 417 162 - 1,083
ASIA-AFRICA 3,127 2,952 1,412 2 7,493
total logan under tHe dacia brand
renault brand
229,958 184,472 135,184 22,833 572,447
EUROMED 67,844 49,323 7,057 - 124,224
o/w Russia 67,844 49,323 7,057 - 124,224
AMERICAS 40,609 13,811 2,858 - 57,278
o/w Venezuela 12,762 5,037 689 - 18,488
Colombia 9,450 7,219 1,894 - 18,563
ASIA-AFRICA 28,368 - - - 28,368
o/w India 17,706 - - - 17,706
Iran 10,657 - - - 10,657
total logan under tHe renault brand 136,821 63,134 9,915 - 209,870
total logan 366,779 247,606 145,099 22,833 782,317
* Preliminary figures.
renault grouP - worldwide Production by model and by segment (1) - cars + lcvs
(IN UNITS)
2007 Renault Annual Report
2007* 2006* % cHange
LOGAN 420,255 256,351 +63.9
entry segment 420,255 256,351 +63.9
TwINGO / TwINGO II 118,082 64,101 +45.7
CLIO** / CLIO III / THALIA 631,567 720,194 -12.3
MODUS 67,514 70,979 -4.9
a et b segments 817,163 855,274 -4.4
MÉGANE / MÉGANE II 629,612 662,281 -4.9
SM3 82,650 71,817 +15.1
QM5 / KOLÉOS 5,241 - -
c segment 717,503 734,098 -2.3
LAGUNA / LAGUNA III 99,512 73,065 +36.2
SM5 76,363 71,675 +6.5
SM7 15,081 17,807 -15.3
ESPACE IV 40,674 41,432 -1.8
VEL SATIS 2,812 4,683 -39.9
d, e, mPv segments 234,442 208,662 +12.3
KANGOO 220,038 232,647 -5.4
NOUVEAU KANGOO 7,226 - -
TRAFIC II (2) 115,904 107,279 +8.0
MASTER II 119,120 105,789 +12.6
MASCOTT 7,585 17,413 -56.4
PICK-UP 1310 - 11,208 -
small vans, vans and PickuPs 469,873 474,336 -0.9
grouP worldwide Production 2,659,236 2,528,721 +5.2
(1) Production data concern the number of vehicles leaving the production line.
(2) Excluding GM production in Luton but including GM production in Barcelona.
* Preliminary figures.
** Including 8,946 Renault-branded Clios manufactured at the Nissan plant in Aguascalientes (Mexico) in to 2007.
SaleS performance and financial reSultS 77

financial
Performance and
outlook for 2008
grouP revenues came to €40,682 million
The contribution from Sales Financing (RCI
Banque) rose 4.8% on 2006, while that of
Automobile climbed 1.6% to €38,679 million
on a consistent basis.
Several trends were at work:
The revenue contribution from the France
and Europe Regions fell 2.6% in a fiercely
competitive market. Sales growth was
positive in the second half, quickening in
the final quarter with the launch of new
products.
Group operating margin in 2007 totaled
€1,354 million in 2007, or 3.3% of revenues,
compared with €1,063 million and
2.6% in 2006.
sales financing contributed €472 million
to Group operating margin, or 23.6%
of its revenues, versus €492 million and
25.7% in 2006. That slight contraction can
be explained by a decline in sales financing
business, due to the decrease in commercial
activity in Automobile in 2006 and firsthalf
2007.
Amid adverse economic conditions in 2007,
with a negative currency impact of €154
million and raw materials costs up by €270
million, Automobile’s contribution to operating
margin increased 54.5% to €882 million,
or 2.3% of revenues, owing
chiefly to:
growth in international sales, with the
three non-European Regions generating
positive operating margin;
the steady performance of the commercial
vehicle line-up in Europe;
continued cost-cutting efforts:
purchasing costs fell by €660 million,
78 SaleS performance and financial reSultS
All the other Regions made a positive contribution
to revenues in 2007 on strong
sales growth, especially in the Americas
and Euromed Regions, where the product
mix improved. The total contribution
of Euromed, Americas and Asia-Africa
improved 3.1% on 2006.
The increase in revenues can also be attributed
to higher sales of powertrains and
vehicles to partners, which made a positive
contribution of 1.2 point.
oPerating margin exceeds tHe objective
excluding the impact of raw materials;
manufacturing and logistics costs
improved by €137 million;
G&A declined 2%, by €44 million;
special product-recall and warranty
extension operations carried out with
a view to preserving the Group’s brand
image; these resulted in a €152 million
increase in warranty-related costs.
The product development cycle was the reason
for a €196 million increase in capitalized
R&D expenses in 2007.
research and development expenses
amounted to €2,462 million in 2007, of
which €1,287 million, or 52.3% of the
total, were capitalized, compared with
45.5% in 2006. This amount reflects the
ongoing development and renewal of the
vehicle and powertrain range under Renault
Commitment 2009.
Overall, R&D expenses recorded in the
income statement amounted to €1,850 million,
or 4.5% of Renault Group revenues,
compared with €1,963 million in 2006, or
4.9% restated.
REVENUES BY DIVISION (€ MILLION)
50,000
40,000
30,000
20,000
10,000
0
OPERATING MARGIN BY DIVISION (€ MILLION)
1,500
1,200
900
600
300
0
39,969
38,058
2006
scope 2007
1,911
1,354
% of revenues 3.3 2.6
882
472
40,682
2007
published
38,679
2,003
1,063
2007 2006
571
492
+1.8%
+1.6%
+4.8%
2007/2006
change
Automobile Sales Financing
+291
+311
(20)
41,528
2006
published
2005/2006
change
39,605
1,923
Automobile Sales Financing
2007 Renault Annual Report

net income, renault sHare totaled €2,734 million
other operating income and expenses
showed a net charge of €116 million in
2007, compared with a net charge of €186
million in 2006.
In 2007 this item essentially comprised:
€143 million in restructuring and workforce
adjustment costs and provisions,
compared with €241 million in 2006;
capital gains amounting to €86 million,
compared with €109 million in 2006, on the
sale of land, mainly in France and Spain.
After recognizing this item, group operating
income came out at €1,238 million,
versus €877 million in 2006.
net financial debt of automobile was
€2,088 million at December 31, 2007, or
9.5% of shareholders’ equity (compared
with 11.5% of shareholders’ equity at
December 31, 2006).
The €326 million reduction in net debt was
due to the following factors:
cash flow of €4,552 million, an increase
of €1,289 million on a consistent basis
compared with 2006. That improvement
was attributable to an increase in operating
margin and dividends from associated
companies, of which:
€456 million from Nissan,
€477 million from AB Volvo;
sound management of net capital expenditure,
which remained stable in 2007, at
€3,565 million (after €3,585 million in
2006);
2007 Renault Annual Report
net financial income/expense showed
income of €76 million in 2007, €15 million
higher than in 2006.
Excluding the exceptional €135 million profit
on the sale of Scania securities in 2006,
financial income improved by €150 million.
That increase can be attributed chiefly to:
The lower cost of borrowing in Automobile.
Through sound management of its financial
assets and liabilities, Automobile continues
to optimize the cost of its debt,
despite a slight increase in average borrowings
over the period;
Income of €53 million related to the positive
impact of the fair-value change in
summary consolidated income statement (€ MILLION)
Renault SA redeemable shares at closing
market price, compared with a charge of
€31 million in 2006.
In 2007 Renault booked a profit of €1,675
million from its share in the net income of
associated companies:
€1,288 million from Nissan;
€352 million from AB Volvo.
Current and deferred taxes amounted to
a net charge of €255 million (equivalent
to 2006).
The effective tax rate (before the impact of
income from associated companies) was
ognition of €2,734 million in net income for
2007, minus:
an €803 million dividend payout by
Renault, or €3.10 per share for 2006,
adjusted for Renault’s equity interest in
Nissan and treasury stock;
a €738 million decline in translation
adjustments, mainly including the indirect
impact of the change in Nissan shareholders’
equity, net of yen hedging;
a €126 million increase in treasury stock
compared with December 31, 2006 as a
result of share buybacks in second-half
2007 to cover dilution related to the exercise
of options granted to employees;
a €37 million decrease in the financial
instrument revaluation reserve (cash flow
hedges and available-for-sale financial
instruments).
2007 2006 2005
REVENUES 40,682 40,332 40,246
OPERATING MARGIN 1,354 4,063 1,323
OPERATING INCOME 1,238 877 1,514
FINANCIAL ExPENSE 76 61 (327)
SHARE IN NET INCOME OF ASOCIATED COMPANIES 1,675 2,277 2,606
PRE-TAx GROUP INCOME 2,989 3,213 3,793
CURRENT ANS DEFERRED TAxES (255) (255) (331)
NET INCOME 2,734 2,960 3,462
NET INCOME – MINORITY INTERESTS’ SHARE 65 74 86
net income - renault sHare 2,669 2,886 3,376
19% in 2007, compared with 27% in 2006.
The lower rate was due to the refund of a
tax credit in Italy and the continued improvement
in the profit outlook for Renault do
Brasil and Renault Argentina, which made
it possible to recognize some of the deferred
tax assets arising on loss carryforwards in
those countries.
Net income was €2,734 million, compared
with €2,960 million in 2006. After neutralizing
Renault shares held by Nissan and
treasury stock, earnings per share came to
€10.32, compared with €11.23 in 2006.
sound financial structure a 22.6% dividend
increase
virtual stability of the working capital
requirement at end-December 2007.
Automobile generated €961 million in
free cash flow. The dividend payout was
€913 million, compared with €681 million
in 2006, including €863 million paid by
Renault SA.
Automobile’s net financial debt also
improved as a result of translation gains,
including €233 million in connection with
yen-denominated debt.
At December 31, 2007, shareholders’
equity had increased by €998 million to
€22,069 million, compared with a restated
amount of €21,071 million at December 31,
2006.
The main reasons for the increase are rec-
At the Annual Generating Meeting of shareholders,
Renault will propose a dividend
payment of €3.80 per share in 2008 on
2007 earnings, compared with a payment
of €3.10 in 2007 on 2006 earnings. That
proposal is in line with the announcement of
steadily increasing dividends under Renault
Commitment 2009.
outlook for 2008
In a less favorable macroeconomic environment
in 2008, Renault can count on the
impact from the launch of nine new products
globally and on its expansion into the most
dynamic and growing markets for auto sales
in the world.
Renault therefore confirms its target of
4.5% operating margin for the year and an
increase of more than 10% in Group sales
compared to 2007.
SaleS performance and financial reSultS 79

financial results
consolidated financial statements*
The comparative figures for 2005 and 2006 are reported after adjustment to reflect changes in accounting methods introduced
in the 2007 financial statements.
consolidated income statements (€ MILLION)
2007 2006 2005
SALES OF GOODS AND SERVICES 39,190 38,901 38,886
SALES FINANCING REVENUES 1,492 1,431 1,360
revenues 40,682 40,332 40,246
COST OF GOODS AND SERVICES SOLD (31,408) (31,343) (31,080)
COST OF SALES FINANCING (1,121) (985) (926)
RESEARCH AND DEVELOPMENT ExPENSES (1,850) (1,963) (2,034)
SELLING, GENERAL AND ADMINISTRATIVE ExPENSES (4,949) (4,978) (4,883)
oPerating margin 1, 354 1,063 1,323
OTHER OPERATING INCOME AND ExPENSES (116) (186) 191
oPerating income 1,238 877 1,514
NET INTEREST INCOME (ExPENSE) (101) (110) (95)
Interest income 274 223 153
Interest expenses (375) (333) (248)
OTHER FINANCIAL INCOME AND ExPENSES, NET 177 171 (232)
financial exPense 76 61 (327)
sHare in net income (loss) of associates 1,675 2,277 2,606
NISSAN 1,288 1,888 2,284
OTHER ASSOCIATES 387 389 322
Pre-tax income 2,989 3,215 3,793
CURRENT AND DEFERRED TAxES (255) (255) (331)
net income 2,734 2,960 3,462
NET INCOME - MINORITY INTERESTS’ SHARE 65 74 86
NET INCOME - RENAULT SHARE 2,669 2,886 3,376
EARNINGS PER SHARE (1) IN € 10.32 11.23 13.23
DILUTED EARNINGS PER SHARE (1) IN € 10.17 11.10 13.12
NUMBER OF SHARES OUTSTANDING (IN THOUSANDS)
for earnings per share 258,621 256,994 255,177
for diluted earnings per share 262,362 260,090 257,342
(1) Net income – Renault shares divided by number of shares stated.
80 SaleS performance and financial reSultS
2007 Renault Annual Report

consolidated balance sHeets (€ MILLION)
assets - € million dec. 31, 2007 dec. 31, 2006 dec. 31, 2005
non-current assets
INTANGIBLE ASSETS 4,056 3,422 2,972
PROPERTY, PLANT AND EQUIPMENT 13,055 13,166 12,691
INVESTMENTS IN ASSOCIATES 12,977 12,958 12,372
Nissan 10,966 10,777 10,441
Other associates 2,011 2,181 1,931
NON-CURRENT FINANCIAL ASSETS 606 563 577
DEFERRED TAx ASSETS 220 313 355
OTHER NON-CURRENT ASSETS 504 376 358
total non-current assets 31,418 30,798 29,325
current assets
INVENTORIES 5,932 5,309 5,857
SALES FINANCING RECEIVABLES 20,430 20,360 20,700
AUTOMOBILE RECEIVABLES 2,083 2,102 2,055
CURRENT FINANCIAL ASSETS 1,239 2,229 1,871
OTHER CURRENT ASSETS 2,375 2,043 2,413
CASH AND CASH EQUIVALENTS 4,721 6,010 6,151
total current assets 36,780 38,053 39,047
total assets 68,198 68,851 68,372
sHareHolders’ eQuity and liabilities - € million dec. 31, 2007 dec. 31, 2006 dec. 31, 2005
sHareHolders’ eQuity
SHARE CAPITAL 1,086 1,086 1,086
SHARE PREMIUM 3,453 3,453 3,453
TREASURY SHARES (499) (373) (456)
REVALUATION OF FINANCIAL INSTRUMENTS 68 105 54
TRANSLATION ADJUSTMENT (982) (269) 548
RESERVES 15,782 13,700 10,968
NET INCOME - RENAULT SHARE 2,669 2,886 3,376
sHareHolders’ eQuity - renault sHare 21,577 20,588 19,029
SHAREHOLDERS’ EQUITY - MINORITY INTERESTS’ SHARE 492 483 463
total sHareHolders’ eQuity 22,069 21,071 19,492
non-current liabilities
DEFERRED TAx LIABILITIES 118 251 231
PROVISIONS - LONG-TERM 1,765 1,847 1,884
NON-CURRENT FINANCIAL LIABILITIES 5,413 5,430 5,901
OTHER NON-CURRENT LIABILITIES 523 428 516
total non-current liabilities 7,819 7,956 8,532
current liabilities
PROVISIONS - SHORT-TERM 954 1,053 1,264
CURRENT FINANCIAL LIABILITIES 1,517 3,715 2,547
SALES FINANCING DEBTS 21,196 21,212 22,427
TRADE PAYABLES 8,224 7,384 7,788
CURRENT TAx LIABILITY 166 121 215
OTHER CURRENT LIABILITIES 6,253 6,339 6,107
total current liabilities 38,310 39,824 40,348
total sHareHolders’ eQuity and liabilities 68,198 68,851 68,372
2007 Renault Annual Report
SaleS performance and financial reSultS 81

financial results
cHanges in consolidated sHareHolders’ eQuity
Number
of shares
(thousand)
82 SaleS performance and financial reSultS
Share
capital
Share
premium
Treasury
shares
Revaluation
of financial
instruments
Translation
adjustment Reserves
Net
income
- Renault
share
Shareholders’
equity
(Renault
share)
Shareholders’
equity
(minority
interests)
total
sHare-
Holders’
eQuity
balance at dec. 31, 2005 284,937 1,086 3,453 (456) 54 548 10,968 3,376 19,029 463 19,492
2006 NET INCOME - - - - - - - 2,886 2,886 74 2,960
INCOME AND ExPENSES
RECORDED IN SHAREHOLDERS’
EQUITY - - - - 51 (817) 21 - (745) (18) (763)
total income and exPenses
for tHe Period - - - - 51 (817) 21 2,886 2,141 56 2,197
ALLOCATION OF 2005 NET INCOME - - - - - - 3,376 (3,376) - - -
DIVIDENDS - - - - - - (617) - (617) (18) (635)
COST OF STOCK OPTION PLANS - - - - - - 55 - 55 - 55
(ACQUISITIONS) / DIPOSALS OF
TREASURY SHARES - - - 83 - - - - 83 - 83
IMPACT OF CHANGES IN THE
SCOPE OF CONSOLIDATION AND
CAPITAL INCREASES - - - - - - (103) - (103) (18) (121)
balance at dec. 31, 2006 284,937 1,086 3,453 (373) 105 (269) 13,700 2,886 20,588 483 21,071
2007 NET INCOME
INCOME AND ExPENSES
RECORDED IN SHAREHOLDERS’
- - - - - - - 2,669 2,669 65 2,734
EQUITY
total income and exPenses
- - - - (37) (713) (57) (807) (28) (835)
for tHe Period - - - - (37) (713) (57) 2,669 1,862 37 1,899
ALLOCATION OF 2006 NET INCOME - - - - - - 2,886 (2,886) - - -
DIVIDENDS - - - - - - (803) - (803) (50) (853)
COST OF STOCK OPTION PLANS
(ACQUISITIONS) / DIPOSALS OF
- - - - - - 66 - 66 - 66
TREASURY SHARES
IMPACT OF CHANGES IN THE
SCOPE OF CONSOLIDATION AND
- - - (126) - - - - (126) - (126)
CAPITAL INCREASES (1)
- - - - - - (10) - (10) (22) (12)
balance at dec. 31, 2007 284,937 1,086 3,453 (499) 68 (982) 15,782 2,669 21,577 492 22,069
(1) The impact of changes in the scope of consolidation on the Renault share of shareholders’ equity result from the treatment applied to acquisitions of minority interests and put options for buyouts of minority shareholdings in controlled companies.
2007 Renault Annual Report

consolidated statements of casH flows (€ MILLION)
2007 Renault Annual Report
2007 2006 2005
NET INCOME 2,734 2,960 3,462
CANCELLATION OF UNREALISED INCOME AND ExPENSES:
Depreciation and amortisation 2,865 2,835 2,705
Share in net income (loss) of associates (1,675) (2,277) (2,606)
Dividends received from associates 936 602 516
Other unrealised income and expenses (1) (114) (430) 164
casH flow 4,746 3,690 4,241
FINANCING FOR FINAL CUSTOMERS (11,114) (12,008) (12,998)
CUSTOMER REPAYMENTS 11,708 12,300 12,485
NET CHANGE IN RENEwABLE DEALER FINANCING (37) 231 (304)
decrease (increase) in sales financing receivables 557 523 (817)
BOND ISSUANCE BY THE SALES FINANCING DIVISION 2,022 1,875 2,988
BOND REDEMPTION BY THE SALES FINANCING DIVISION (3,139) (2,966) (2,866)
NET CHANGE IN OTHER SALES FINANCING DEBTS 1,265 (792) 1,952
NET CHANGE IN OTHER SECURITIES AND LOANS OF THE SALES FINANCING DIVISION (359) (58) (39)
net cHange in sales financing financial assets and debts (211) (1,941) 2,035
decrease (increase) in working caPital (1) (347) 314 (374)
casH flows from oPerating activities 4,745 2,586 5,085
CAPITAL ExPENDITURE (4,644) (4,644) (4,018)
ACQUISITIONS OF INVESTMENTS, NET OF CASH ACQUIRED (67) (30) (59)
DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLES 1,086 1,152 1,073
DISPOSALS OF INVESTMENTS, NET OF CASH ACQUIRED, AND OTHER 63 55 100
NET DECREASE (INCREASE) IN OTHER SECURITIES AND LOANS OF THE AUTOMOBILE
DIVISION (2) 615 423 (149)
casH flows from investing activities (2,947) (3,044) (3,053)
TRANSACTIONS wITH MINORITY SHAREHOLDERS (3) 26 (131) (2)
DIVIDENDS PAID TO PARENT COMPANY SHAREHOLDERS (863) (664) (494)
DIVIDENDS PAID TO MINORITY SHAREHOLDERS (50) (22) (60)
(PURCHASES) SALES OF TREASURY SHARES (126) 85 56
casH flows witH sHareHolders (1,013) (732) (500)
BOND ISSUANCE BY THE AUTOMOBILE DIVISION 588 851 245
BOND REDEMPTION BY THE AUTOMOBILE DIVISION (451) (928) (388)
NET INCREASE (DECREASE) IN OTHER FINANCIAL LIABILITIES OF THE AUTOMOBILE DIVISION (2,065) 1 069 (867)
net cHange in financial liabilities of tHe automobile division (1,928) 992 (1,010)
casH flows from financing activities (2,941) 260 (1,510)
increase (decrease) in casH and casH eQuivalents (1,143) (198) 522
2007 2006 2005
casH and casH eQuivalents: oPening balance 6,010 6,151 5,521
INCREASE (DECREASE) (1,143) (198) 522
EFFECT OF CHANGES IN ExCHANGE RATE AND OTHER CHANGES (146) 57 108
casH and casH eQuivalents: closing balance 4,721 6,010 6,151
(1) Other unrealised income and expenses include the change in net allocations to long-term and short-term provisions. The short-term portion was previously included in the decrease
(increase) in working capital requirements.
(2) In 2006, this includes a €135 million gain on the sale of Scania shares.
(3) Via capital increases or capital reductions and acquisitions of additional investments in controlled companies.
SaleS performance and financial reSultS 83

financial results
segment information - consolidated income statements by division (€ MILLION)
84 SaleS performance and financial reSultS
AUTOMOBILE SALES FINANCING
INTERDIVISION
TRANSACTIONS (1)
consolidated
total
2007
SALES OF GOODS AND SERVICES 38,679 511 - 39,190
SALES FINANCING REVENUES - 1,492 - 1,492
external sales 39,679 2,003 - 40,682
INTERDIVISION SALES (1) (276) 327 (51) -
revenues 38,403 2,330 (51) 40,682
oPerating margin 858 472 24 1,354
oPerating income 767 457 14 1,238
financial exPense - - - 76
sHare in net income (loss) of associates 1,668 7 - 1,675
Pre-tax income - - - 2,989
CURRENT AND DEFERRED TAxES - - - (255)
net income 2,734
2006
SALES OF GOODS AND SERVICES 38,409 492 - 38,901
SALES FINANCING REVENUES - 1,431 - 1,431
external sales 38,409 1,923 - 40,332
INTERDIVISION SALES (1) (203) 270 (67) -
revenues 38,206 2,193 (67) 40,332
oPerating margin 486 492 85 1,063
oPerating income 303 489 85 877
financial exPense - - - 61
sHare in net income (loss) of associates 2,272 5 - 2,277
Pre-tax income - - - 3 215
CURRENT AND DEFERRED TAxES - - - (255)
net income 2,960
2005
SALES OF GOODS AND SERVICES 38,366 520 - 38,886
SALES FINANCING REVENUES - 1,360 - 1,360
external sales 38,366 1,880 - 40,246
INTERDIVISION SALES (1) (34) 268 (234) -
revenues 38,322 2,148 (234) 40,246
oPerating margin 858 465 85 1,323
oPerating income 1,058 456 - 1,514
financial exPense - - - (327)
sHare in net income (loss) of associates 2,604 2 - 2,606
Pre-tax income - - - 3,793
CURRENT AND DEFERRED TAxES - - - (331)
net income 3,462
(1) Interdivision transactions are carried out under near-market conditions.
2007 Renault Annual Report

consolidated balance sHeets by division - december 31, 2007 (EN MILLIONS D’EUROS)
assets AUTOMOBILE SALES FINANCING
2007 Renault Annual Report
INTERDIVISION
TRANSACTIONS (1)
consolidated
total
non-current assets
PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE
ASSETS
16,788 343 (20) 17,111
INVESTMENTS IN ASSOCIATES 12,956 21 - 12,977
NON-CURRENT FINANCIAL ASSETS -
INVESTMENTS IN NON-CONTROLLED ENTITIES
NON-CURRENT FINANCIAL ASSETS - OTHER SECURITIES,
2,423 10 (2,395) 38
LOANS AND DERIVATIVES ON FINANCING OPERATIONS
OF THE AUTOMOBILE DIVISION
585 - (17) 568
DEFERRED TAx ASSETS AND OTHER NON-CURRENT
ASSETS
603 111 10 724
total non-current assets 33,355 485 (2,422) 31,418
current assets
INVENTORIES 5,927 5 - 5,932
CUSTOMER RECEIVABLES 2,177 21,104 (768) 22,513
CURRENT FINANCIAL ASSETS 1,184 608 (553) 1,239
OTHER CURRENT ASSETS 1,839 2,124 (1,588) 2,375
CASH AND CASH EQUIVALENTS 3,697 1,319 (295) 4,721
total current assets 14,824 25,160 (3,204) 36,780
total assets 48,179 25,645 (5,626) 68,198
sHareHolders’ eQuity and liabilities
consolidated
total
sHareHolders’ eQuity
non-current liabilities
21,987 2,385 (2,303) 22,069
DEFERRED TAx LIABILITIES AND LONG-TERM
PROVISIONS
1,582 248 53 1,883
NON-CURRENT FINANCIAL LIABILITIES 5,141 272 - 5,413
OTHER NON-CURRENT LIABILITIES 459 64 - 523
total non-current liabilities 7,182 584 53 7,819
current liabilities
SHORT-TERM PROVISIONS 902 52 - 954
CURRENT FINANCIAL LIABILITIES 2,413 - (896) 1,517
TRADE PAYABLES AND SALES FINANCING DEBTS 8,347 21,964 (891) 29,420
OTHER CURRENT LIABILITIES AND CURRENT TAx
LIABILITY
7,348 660 (1,589) 6,419
total current liabilities 19,010 22,676 (3,376) 38,310
total sHareHolders’eQuity
and liabilities
(1) Interdivision transactions are carried out under near-market conditions.
48,179 25,645 (5,626) 68,198
SaleS performance and financial reSultS 85

financial results
consolidated casH flow statements by division (€ MILLION)
AUTOMOBILE
SALES
FINANCING
INTERDIVISION
TRANSACTIONS (1)
consolidated
total
2007
NET INCOME
CANCELLATION OF UNREALISED INCOME AND ExPENSES:
2,654 323 (243) 2,734
Depreciation and amortisation 2,815 87 (37) 2,865
Share in net income (loss) of associates (1,668) (7) - (1,675)
Dividends received from associates 936 - - 936
Other unrealised income and expenses (2) (185) 55 16 (114)
casH flow 4,552 458 (264) 4,746
DECREASE / (INCREASE) IN SALES FINANCING
RECEIVABLES
- 413 144 557
NET CHANGE IN SALES FINANCING FINANCIAL ASSETS
AND DEBTS
- 13 (224) (211)
DECREASE / (INCREASE) IN wORKING CAPITAL (2) (26) (336) 15 (347)
casH flows from oPerating activities 4,526 548 (329) 4,745
PURCHASES OF INTANGIBLE ASSETS (1,347) (1) - (1,348)
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT (3) (3,160) (145) 9 (3,296)
DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT AND
INTANGIBLES (3) 942 141 3 1,086
ACQUISITION OF INVESTMENTS, NET OF DISPOSALS
AND OTHER
41 (45) - (4)
NET DECREASE / (INCREASE) IN OTHER SECURITIES AND
LOANS OF THE AUTOMOBILE DIVISION (3) 652 - (37) 615
casH flows from investing activities (2,872) (50) (25) (2,947)
CASH FLOwS wITH SHAREHOLDERS (1,017) (248) 252 (1,013)
NET CHANGE IN FINANCIAL LIABILITIES OF THE
AUTOMOBILE DIVISION
(1,765) - (163) (1,928)
casH flows from financing activities (2,782) (248) 89 (2,941)
increase / (decrease) in casH and
casH eQuivalents
(€ MILLION) AUTOMOBILE
(1,128) 250 (265) (1,143)
(1) Interdivision transactions are carried out under near-market conditions.
(2) Other unrealised income and expenses include the change in net allocations to long-term and short-term provisions. The short-term portion was previously included in the decrease
(increase) in working capital requirements.
(3) Including impact of leased vehicles:
SALES
FINANCING grouP total
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT (876) (130) (1,006)
DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT 767 144 911
86 SaleS performance and financial reSultS
2007 Renault Annual Report

consolidated casH flow statements by division (€ MILLION)
2007 Renault Annual Report
AUTOMOBILE
SALES
FINANCING
INTERDIVISION
TRANSACTIONS (1)
consolidated
total
2006
NET INCOME
CANCELLATION OF UNREALISED INCOME AND ExPENSES:
2,603 312 45 2,960
Depreciation and amortisation 2,817 86 (68) 2,835
Share in net income (loss) of associates (2,272) (5) - (2,277)
Dividends received from associates 602 - - 602
Other unrealised income and expenses (2) (487) 32 25 (430)
casH flow 3,263 425 2 3,690
DECREASE / (INCREASE) IN SALES FINANCING
RECEIVABLES
- 524 (1) 523
NET CHANGE IN SALES FINANCING FINANCIAL ASSETS
AND DEBTS
- (1,935) (6) (1,941)
DECREASE / (INCREASE) IN wORKING CAPITAL (2) 281 70 (37) 314
casH flows from oPerating activities 3,544 (916) (42) 2,586
PURCHASES OF INTANGIBLE ASSETS (1,129) (3) - (1,132)
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT (3) (3,340) (193) 21 (3,512)
DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT AND
INTANGIBLES (3) 884 268 - 1,152
ACQUISITION OF INVESTMENTS, NET OF DISPOSALS
AND OTHER
23 2 - 25
NET DECREASE / (INCREASE) IN OTHER SECURITIES AND
LOANS OF THE AUTOMOBILE DIVISION (3) 421 - 2 423
casH flows from investing activities (3,141) 74 23 (3,044)
CASH FLOwS wITH SHAREHOLDERS (719) (14) 1 (732)
NET CHANGE IN FINANCIAL LIABILITIES OF THE
AUTOMOBILE DIVISION
966 - 26 992
casH flows from financing activities 247 (14) 27 260
increase / (decrease) in casH and
casH eQuivalents
(€ MILLION) AUTOMOBILE
650 (856) 8 (198)
(1) Interdivision transactions are carried out under near-market conditions.
(2) Other unrealised income and expenses include the change in net allocations to long-term and short-term provisions. The short-term portion was previously included in the decrease
(increase) in working capital requirements.
(3) Including impact of leased vehicles:
SALES
FINANCING grouP total
PURCHASES OF PROPERTY, PLANT AND EQUIPMENT (969) (165) (1,134)
DISPOSALS OF PROPERTY, PLANT AND EQUIPMENT 685 268 953
(4) In 2006, this includes a €135 million gain on the sale of Scania shares.
SaleS performance and financial reSultS 87

financial results
information by geograPHic area (€ MILLION)
88 SaleS performance and financial reSultS
FRANCE EUROPE EUROMED ASIA-AFRICA AMERICA
total
consolidated
2007
REVENUES 13,105 17,342 4,310 2,757 3,168 40,682
CAPITAL ExPENDITURE 3,238 598 408 266 134 4,644
PROPERTY, PLANT AND EQUIPMENT AND
INTANGIBLES
11,363 2,559 1,751 756 682 17,111
OTHER OPERATING ASSETS (1) 5,130 3,060 813 577 810 10,390
2006
REVENUES 13,643 17,950 3,733 2,689 2,317 40,332
CAPITAL ExPENDITURE 2,961 865 373 283 162 4,644
PROPERTY, PLANT AND EQUIPMENT AND
INTANGIBLES
10,928 2,737 1,526 735 662 16,588
OTHER OPERATING ASSETS (1) 4,779 2,941 766 331 637 9,454
2005
REVENUES 13,753 18,889 3,396 2,130 2,078 40,246
CAPITAL ExPENDITURE 2,607 861 362 90 98 4,018
PROPERTY, PLANT AND EQUIPMENT AND
INTANGIBLES
10,469 2,778 1,297 546 573 15,663
OTHER OPERATING ASSETS (1) 5,871 3,123 541 272 518 10,325
(1) Other operating assets include inventories, Automobile receivables and other current assets.
Consolidated revenues are presented by location of customers.
Property, plant and equipment and intangibles, capital expenditure and other operating assets are presented by location of subsidiaries and
joint ventures.
Photo credit:
all rights reserved: pp. 3, 25, 29, 30, 31, 49, 67, 71 / angie - g. Lefauconnier: p. 53 / r.astier: p. 58 / J. bailey: p. 29 / O. banet: pp. 30-31 / b. barbet: p. 51 / a. bernier: p. 12 / bLm Studio: Contents, pp. 18, 44, 72 /
S. de bourgies - O. banet: Contents, p. 32 / r. buhrer: p. 52 / c. cabrol: p. 4 / S. charonnat: p. 69 / f. christophorides: pp. 26, 63 / L. costa: p. 23 / r. costa: p. 30 / côté cour a. fevrier: pp. 10, 11,
16 / c. cugny: pp. 30, 31, 61 / P. curtet: pp. 3, 24, 25, 49 / dIac: p. 58 / dPPI E. Vargiolu: p. 60 / dPPI Jm Lemeur: p. 61 / d. dumas: pp. 30-31 / f. Haerdter: p. 30 / J.P. Harvey: p. 24 / IQad.VIcE: p. 49 /
P. Jacob: p. 37 / LaT Photographic: p. 60 / L. Le fur: pp. 58-59 / J.b. Lemal: Contents, pp. 21, 64, 68 / a. Lesieur: p. 31 / S. Kouzmine: p. 6 / magnum - r. Kalvar: pp. 8, 9, 12, 13, 22, 37, 57 / maP (magrheb
arabe Presse): p. 63 / O. martin-gambier: p. 2, 3, 22, 27, 54, 57, 69 / S. millier: pp. 5, 7, 53, 66 / Nissan North america: pp. 40, 41, 43 / Pagecran - H. Vincent: p. 27 / O. Palermo: p. 71 / L. Perenom:
pp. 26, 47, 51 / V. rackelboom: p. 52 / P.g. rastoin: p. 68 / rcI banque: p. 59 / renault design - b. chimenes: p. 20 / P. Sautelet: pp. 14, 63 / E. Severe: pp. 47, 56 / P. Stroppa: pp. 9, 15, 34, 35, 46, 57,
50 / Studio Pons / P. Stroppa: p. 67 / Textuel - E. Severe: p. 56 / P. Thirion: pp. 2, 23 / Transluz fotografia - E. gijongarcia: pp. 70-71 / g. uferas: p. 69 / J. Van Edert: pp. 22, 28, 29 / T. Van Salomon: Cover /
J. Vekemans - gamma - EyEdEa: pp. 5, 15, 50, 51.
2007 Renault Annual Report

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